Fisker and Foxconn have agreed to assemble Project PEAR EVs in Ohio for $29,900.
Fisker announced Thursday that it will source an electric vehicle from the former General Motors plant in Road Town, Ohio.
The vehicle in question is an urban runabout code-named "Project PEAR," which Fisker plans to launch in 2024 starting at $29,900. The company has set an annual production target of 250,000 units of this EV.
Fisker first hinted last fall that it would contract produce the PEAR at its Road Town plant, but the plan was dependent on whether Foxconn, which originally bought the plant from GM, would succeed in acquiring the Road Town plant from struggling EV startup Road Town Motors. It all depended on it. Under a separate agreement with Lordstown Motors, Foxconn will also manufacture Lordstown Motors' Endurance pickup trucks at the plant.
The PEAR will be Fisker's second vehicle, the first being the 2023 Ocean crossover, which is scheduled to go into production this fall. Production of the Ocean has been outsourced to Magna Steyr in Austria. [The PEAR code name is an acronym for Personal Electric Automotive Revolution, and Fisker describes the car as an "agile urban EV." At approximately 177 inches long, it is slightly shorter than compact EVs like Hyundai's Ioniq 5 and Volkswagen's ID.4, and will seat five people. Fisker also said the car will feature intuitive controls, sporty driving characteristics, and "industry firsts."
Fisker said that PEAR will ride on a new platform, although it is believed to be derived from a modular platform originally developed by Foxconn. According to Fisker, this platform will support two other models of PEAR. Ocean will use a different platform procured from Magna Steyr.
"PEAR will be a revolutionary electric vehicle that does not fit into any existing segment," Henrik Fisker, Fisker's chairman, CEO and founder, said in a statement.
Fisker is known to be developing at least two additional vehicles, but these are high-end vehicles with limited production runs; one is a sports car code-named Ronin, whose teaser was unveiled in early May. The other vehicle is believed to be an SUV.
