Foxconn, which builds Apple’s iPhone in India, expects to start building electric cars for Fisker Inc. in the next several years. Fisker Inc, steered by Henrik Fisker, who is the renowned designer of models like the BMW Z8 as well as the Aston Martin DB9, is going to be the first to establish a technology hub in Hyderabad with over 300 engineers, and afterwards, in collaboration with Foxconn, start producing the electric “worldwide vehicle” Pear in India within two years. Aside from India, the company, which makes asset-light electric cars, has outsourced its manufacturing to Foxconn, a Taiwanese electronics conglomerate.
Ocean, Fisker Inc’s first-ever model SUV, is intended for a worldwide introduction in the month of November and is going to be imported as a fully assembled unit in India. The company is engaged in the process of creating a local organization, beginning with the tech center before partnering with Foxconn to create the Pear, which is its second model, locally. The Pear, that is scheduled to debut in 2024-25, is Fisker’s worldwide car project, with a goal of 1 million units sold worldwide. The Pear is planned to possess an entry-level price of nearly Rs 20 lakh ($26,794) in India, where it will compete with EV versions from Hyundai and MG.
Henrik Fisker, chairman and CEO of Henrik Fisker, told ET that “software development is a huge asset in India.” The company will begin its adventure in India by hiring engineers for its technology center. In a few weeks, an official announcement about the technology center will most likely be made.
Fisker Inc, a California-based electric vehicle manufacturer, is investing heavily in emerging markets. “What is the significance of India and China? Because this vehicle will cost less than $30,000, to begin with (around Rs 22 lakh). So, compared to what is already available, it will be relatively economical, yet roomy, with new sorts of storage places and technology not seen in its class. And we’ll only be able to do it if we finally produce a million automobiles every year “Fisker explained.
Fisker is enthusiastic and optimistic about the Pear, which he believes will be a key volume driver: “We’re not just building a car; we’re building a future mobility device. And that is the true key here.” “Emotional, exciting automobiles don’t have to be pricey,” Fisker argues. Although the exact location of the manufacturing factory in India has yet to be determined, Fisker, who has a personal connection to the country (his wife Geeta Fisker is Indian), is optimistic about the potential for electric vehicles in India.
“When you examine the Indian people and market, you’ll notice that they’re very tech-savvy. I believe that India will burst when it relates to the adoption of electricity at some time in the future, and no one knows when that will happen “Fisker stated. He continued, ” “Obviously, the government plays a significant part in this. However, I believe there will be public pressure to go electric at some point in the future.”
Fisker Inc’s debut comes at a period when Tesla is still figuring out its strategy for India. “Still working through a lot of difficulties with the government,” Tesla Motors CEO Elon Musk tweeted on January 13 in response to a tweet. Fisker is hoping for a less bumpy ride. “I believe we will go to India with the Fisker Pear production with Foxconn before Tesla begins manufacturing of their automobiles in India,” Fisker stated. It’s unclear whether Tesla will have production facilities in India.
In 2020, Fisker collected over a billion dollars. Even while Ocean and the Pear might serve as “the backbone of the company,” it aims to add items like a supercar at the upper side of the price spectrum.