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Fisker's $30,000 EV project will be built in US with Foxconn

With US production confirmed, Fisker is working at full speed to secure a site and land supplier contracts through Foxconn.

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This is the only sketch we have of Project PEAR.

Fisker/Foxconn

The folks who build Apple's iPhone will soon build an electric car in the US, if all goes according to plan. On Thursday, startup Fisker and its partner Foxconn announced production of its Project PEAR electric car is coming to America. The announcement comes after we first learned of Fisker and Foxconn buddying up to build Project PEAR last February, though we still have zero clue what kind of car PEAR will be. 

Right now, the only info we have is what "PEAR" actually stands for. That is "Personal Electric Automotive Revolution." Fisker says this vehicle will be a "breakthrough new segment" kind of car.

However, the two companies did provide a few other details, and more importantly, one of them is the price. The goal is to bring the car to market with a price under $30,000 before any tax credits or incentives. We could be talking about an affordable EV if the the two keep this promise. It will also ride on a platform Foxconn dubbed "FP28."

Production of the vehicle is meant to start in the fourth quarter of 2023, so we're pretty far out from seeing Project PEAR materialize. Before then, however, Fisker said production lines at Magna Steyr will start cranking out its first EV, the Ocean SUV, in the fourth quarter of next year. Between now and late 2023, Foxconn and Fisker will make a selection for the new US factory and continue inking supply chain agreements to have everything needed to build a physical car.