Apple supplier Foxconn teams up with Fisker to make electric vehicles

Electric-car maker Fisker Inc said it will work with Apple supplier Foxconn to produce more than 250,000 vehicles a year from late 2023, jumpstarting its shares on Wednesday.
 

Fisker's shares jumped 23.4% to $20.10 in premarket trading.
 

The deal, codenamed "Project PEAR" (Personal Electric Automotive Revolution), is looking at markets globally including North America, Europe, China and India, Fisker said.
 

Foxconn, Apple's main iPhone maker, has ramped up its interest in electric vehicles (EVs) over the past year or so, announcing deals with Chinese electric-car maker Byton and automaker Zhejiang Geely Holding Group.
 

Foxconn aims to provide components or services