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Electric Vehicle Maker Fisker Partners With Apple Supplier Foxconn

Howard Smith, The Motley Fool
·2-min read
Electric Vehicle Maker Fisker Partners With Apple Supplier Foxconn

Longtime Apple (NASDAQ: AAPL) supplier Foxconn Technology Group -- also known as Hon Hai Precision (OTC: HNHPF) -- has signed a memorandum of understanding with start-up electric-vehicle maker Fisker (NYSE: FSR) to partner on a global project. Under the agreement, Foxconn plans to manufacture up to 250,000 electric vehicles (EVs) annually under the Fisker brand. Foxconn's connection to Apple leads to speculation whether a rumored electric car from Apple could end up being built by Foxconn.