The new collaboration between Foxconn and Fisker will revolutionize the automotive industry model by introducing ICT capabilities – which help automakers accelerate their transition to new, innovative, and efficient manufacturing processes and business models.

Fisker is projected to start production on its first vehicle, the Ocean electric SUV, in Q4 2022. Interest in the Ocean continues to build at an encouraging pace, with more than 12,000 global paid reservations. Fisker plans to unveil a production-intent prototype of the Ocean later this year.

Following the signing of the MOU, teams from Fisker and Foxconn will establish several workstreams focused on design, technology, engineering, and manufacturing. Due to the rapid development schedule, both companies expect to conclude discussions and enter into a formal partnership agreement during Q2 2021.