2023 Fisker Ocean One Sport Utility 4d on 2040-cars

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Fisker Pear will be built at Foxconn's Lordstown Motors plant

Shares of Lordstown Motors surged over 23% in trading before the bell on Thursday after the electric vehicle startup said it had closed the deal to sell its Ohio facility with Taiwanese contract manufacturer Foxconn. The Taiwanese firm confirmed it will also make Fisker's Pear compact car model from 2024 alongside the Endurance at the Ohio facility. The deal closure buys Lordstown Motors some much needed breathing room and gives production of its electric pickup a chance at success, said Danni Hewson, analyst at AJ Bell. "Building electric vehicles is an expensive business at the best of times. Right now the supply crunch is making life incredibly difficult and Lordstown Motors and its shareholders will be feeling a rather heady sense of relief today," added Hewson. Setting up manufacturing lines for electric vehicles is a capital intensive process and startups in the past have struggled to raise sufficient capital to mass produce vehicles. Foxconn will now manufacture Lordstown Motors' Endurance electric pickup truck which will go into production in the third quarter of the year and be in the hands of customers in the fourth quarter. Lordstown Motors will retain some assets including its hub motor, battery assembly lines and intellectual property. The company said the deal closure results in $260 million of proceeds, including the reimbursement of certain operating and expansion costs. The stock fell over 95% from its high of over $30 per share in September 2020, weeks after going public through a merger with a blank check company. It is currently trading under $2. Reporting by Akash Sriram and Bansari Mayur Kamdar in Bengaluru; Editing by Krishna Chandra Eluri Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Fisker recalls all 2023 Oceans, but for a rather weird reason

Recalls come in all sizes and styles, and that's actually the crux of this recall for all 2023 Fisker Oceans. Yes, the recall, according to NHTSA documentation, affects every single one of the 6,864 examples of 2023 Oceans on the road. But the good news is that, rather than something that could cause a crash or severe injury, this is for fixing the fonts and colors of some warning lights. You see, the Federal Motor Vehicle Safety Standard code dictates the size and style of font for warning lights, as well as the colors for said lights, with each color corresponding to certain warnings and their importance. All automakers have to follow these rules, and when they're incorrect, they need to be fixed. In the case of the Ocean, the recall notes that the font size for the brake, park and ABS warning indicators were too small, the brake warning lights were in amber and not red, and some of the tire pressure warning light operation weren't correct. These do sound nitpicky, and unsurprisingly, no injuries or damages have occurred due to this issue, but the regulations are in place to ensure that warnings are universally understandable, and that they're in colors and sizes that are easy to read and understand. The good news is that all of these will be rectified easily. The warning lights display on the car's screens, so an over-the-air update will go out with revised font sizing, colors and operation. All of this should bring the Oceans into federal compliance. And of course the update will be completely free, and because it's over-the-air, won't require a trip to a dealer or service center. Letters will be sent to owners on June 30 to alert them to the recall, and customers with questions can call Fisker at 1-844-347-5371 with regard to recall number TSB70062404.

Fisker signs deal with Foxconn to build EVs in U.S. in 2023

Henrik Fisker (Reuters)   DETROIT — Electric car maker Fisker has finalized its vehicle-assembly deal with Foxconn Technology Co Ltd, including plans to open a U.S. plant in 2023, the companies said on Thursday. The plant's location has not been identified, but Fisker Chief Executive Henrik Fisker said four states are under consideration, including Foxconn's plant site in Wisconsin. Foxconn Chairman Liu Young-way previously said electric vehicles (EVs) have a "promising future" in Wisconsin but did not elaborate. The annual capacity for the U.S. plant will be at least 150,000 vehicles to start, Fisker said. "When you look back at recent history and new technology products, they have been launched in the U.S. first," Fisker said in an interview. "That's why we want to launch here." He expects the U.S. market initially to be the biggest for the vehicle. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fisker also cited access to Foxconn's supply chain, including semiconductor chips, as an advantage of the partnership. Fisker is one of a handful of EV startups that have gone public through a reverse merger with a special-purpose acquisition company (SPAC) at a time when U.S. President Joe Biden has called for $174 billion in new spending to boost EVs and charging. Under the Fisker deal, the companies will jointly invest in "Project PEAR" (Personal Electric Automotive Revolution) and share in any profit. The companies reaffirmed Foxconn will eventually build more than 250,000 vehicles a year for Fisker across multiple sites, with initial production beginning at its U.S. plant in late 2023 which it announced in February. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. "We have world-class supply chains in place to support Project PEAR — in particular, securing the reliable delivery of chipsets and semiconductors," Liu said in a statement. The vehicle type has not been identified by Fisker, but will be based on a new lightweight platform — FP28 — designed by both companies. The five-passenger vehicle, which will be sold globally and is the second model under development, will have a starting price below $30,000 before incentives. Fisker said the vehicle would be described by some as a crossover. Terms of the deal, which runs seven years, were not disclosed.