Fisker leaps on EV partnership with Foxconn

Evs SA

24/02/2021 13:37

** Shares of Fisker Inc  FSR.N  up 26% at $20.48 premarket
after EV maker says will collaborate with Foxconn  2317.TW 
    ** Foxconn to produce more than 250,000 vehicles a year from
late 2023  urn:newsml:reuters.com:*:nL4N2KU3OK
    ** The deal, codenamed "Project PEAR" (Personal Electric
Automotive Revolution), looking at markets globally including
North America, Europe, China and India
    ** Foxconn, Apple's  AAPL.O  main iPhone maker, has ramped
up interest in EVs over the past year or so, announcing deals
with Chinese electric-car maker Byton and automaker Zhejiang
Geely Holding Group
    ** Fisker expected to start production of its first vehicle,
the Ocean electric SUV, late next year
    ** FSR shares on Feb 12 surged 23% to $18.99 after Morgan
Stanley called co its EV 'sleeper pick', saying investors
underestimating path to commercialization significantly aided by
Canadian auto supplier Magna International Inc  MG.TO 
    ** YTD, FSR shares up 11%

 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper.tr.com@reuters.net
lance.tupper@tr.com))