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Foxconn is expected to build more than 250,000 vehicles a year under the Fisker partnership, according to a company statement.
The Ocean will be built by Magna Steyr of Magna International in Graz, Austria, where the contract manufacturer also builds cars for BMW, Mercedes-Benz, Toyota and Jaguar.
Fisker said no decision has been made on where the second model developed with Foxconn will be built. He said he envisions the car being built in “multiple locations” around the world.
“The acceleration we have in terms of product is only possible with several partners and several existing manufacturing facilities,” said Fisker.
Foxconn introduced its first EV chassis and a software platform to help automakers get cars to market faster in October, but Fisker won’t say whether the new model would use that platform. The Ocean will use a platform developed by Magna.
“Foxconn will take the lead in the manufacturing supply chain and we will take the lead in design, development, distribution and branding,” said Fisker.
Foxconn and Fisker will jointly invest in the model, Fisker said.
The two companies did not discuss Foxconn’s stake in Fisker as Magna International did. As part of the deal to build the Ocean, the supplier will receive warrants to purchase a stake of up to 6% in Fisker, worth around $ 3 billion.
In January, Foxconn signed a manufacturing agreement with Chinese electric vehicle start-up Byton to start mass production of the Byton M-Byte by the first quarter of 2022.
A week later, Foxconn and Zhejiang Geely Holding Group said they would join forces to provide production and consulting services to global auto companies.
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