the vehicle type has not been identified by fisker but will be based on a new lightweight platform fp28 designed by both companies by ben klayman detroit electric car maker fisker inc has finalized its vehicleassembly deal with foxconn technology co ltd including plans to open a us plant in 2023 the companies said on thursday the plants location has not been identified but fisker chief executive henrik fisker said four states are under consideration including foxconns plant site in wisconsin foxconn chairman liu youngway previously said electric vehicles evs have a promising future in wisconsin but did not elaborate advt the annual capacity for the us plant will be at least 150000 vehicles to start fisker said when you look back at recent history and new technology products they have been launched in the us first fisker said in an interview thats why we want to launch here he expects the us market initially to be the biggest for the vehicle fisker also cited access to foxconns 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 specialpurpose acquisition company spac at a time when us 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 250000 vehicles a year for fisker across multiple sites with initial production beginning at its us plant in late 2023 which it announced in february we have worldclass 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 fivepassenger vehicle which will be sold globally and is the second model under development will have a starting price below 30000 before incentives fisker said the vehicle would be described by some as a crossover advt terms of the deal which runs seven years were not disclosed fisker said in december that canadian auto supplier magna international inc would initially manufacture its first vehicle the ocean suv in europe production is on track to start in the fourth quarter of next year said henrik fisker who added the foxconn deal does not affect those plans fisker will show the final production version in november at the los angeles auto show fisker declined to say who will supply batteries for both vehicles foxconn has ramped up its interest in evs over the past year or so including the formation of a joint venture for contract manufacturing with chinese automaker zhejiang geely holding group foxconn aims to provide components or services to 10 of the worlds evs by 2025