Fisker (FSR, $16.28) signs deal with Foxconn to make new EV

Electric carmaker Fisker  said it  signed a deal to make a new vehicle with Taiwanese electronic contract manufacturer Foxconn.

Foxconn will manufacture the electric vehicle at projected annual volumes of more than 250,000.

“We will create a vehicle that crosses social borders, while offering a combination of advanced technology, desirable design, innovation and value for money, whilst delivering on our commitment to create the world’s most sustainable vehicles,” CEO Henrik Fisker said in a statement.

Production of the new electric vehicle will begin in the fourth quarter of 2023.