SET TO COLLABORATE ON ELECTRIC VEHICLE PROJECT

RNS Announcement

RNS Number : 2741Q

Hon Hai Precision Industry Co Ld

25 February 2021

Subject:FOXCONN AND FISKER SET TO COLLABORATE ON ELECTRIC VEHICLE PROJECT

Contents:

1.Date of occurrence of the event:2021/02/24

2.Company name:Hon Hai Precision Ind. Co. Ltd.

3.Name of the reporting media:The company's press information

4.Content of the report:

Fisker Inc. (NYSE: FSR) (Fisker) - designer and manufacturer of the world's most emotion-stirring, eco-friendly electric vehicles, and advanced mobility solutions - today announced it has entered into a MOU with Hon Hai Technology Group (TWSE:2317) (Foxconn) supporting a project to develop a breakthrough electric vehicle. Highlights of the proposed collaboration, codenamed'Project PEAR' (Personal Electric Automotive Revolution):

Fisker and Foxconn to jointly develop a breakthrough new segment vehicle.

Foxconn to manufacture the vehicle at projected annual volumes of more than 250,000. Global market scope - including North America, Europe, China, and India.Projected start of production is Q4 2023; this will be the second vehicle introduced by the Fisker brand, following the launch of the Ocean SUV in Q4 2022.

5.Cause of occurrence:Regarding the company's press release.

6.Countermeasures:None

7.Any other matters that need to be specified:None

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RNS metadata

Title: SET TO COLLABORATE ON ELECTRIC VEHICLE PROJECT
Time: 07:00:03
Date: 25 Feb 2021
Category: Miscellaneous
ID: 2741Q