Electric-car maker Henrik Fisker is reportedly set to announce that there is no ‘final conclusion’ yet in its deal with Foxconn for a $300 million investment. The deal, which was announced in December, aims to help Fisker build its first production car, the Ocean electric SUV.
The deal with Foxconn was meant to be part of a larger $1 billion investment in the company but despite the announcement of the deal in December, there have been few major updates since. According to Fisker, “There is no ‘final conclusion’ yet” and “there is still a significant step ahead” before any formal announcements can be made.
Despite the lack of progress in the Foxconn investment, Fisker is pressing ahead with plans for its Ocean electric SUV. The car is due to be unveiled at the Consumer Electronics Show (CES) in January 2021 and will be the first vehicle to be produced by Fisker.
The car, which is set to be one of the most affordable electric SUVs on the market, will feature state-of-the-art technology with “an unprecedented range, drivetrains, type of battery pack, and combination of luxury and affordability.”
The intent of the investment from Foxconn was to help Fisker boost production capacity so it can meet demand for its vehicles. Fisker is also hoping to secure additional investment from outside investors.
Fisker is not the only electric-car company that has sought investment from Foxconn. Foxconn has also announced investments in electric-vehicle company Xpeng, electric-motorcycle maker Niu, and other electric-vehicle companies.
For now, it appears that Henrik Fisker and Foxconn are still in the process of negotiating the deal and there is no ‘final conclusion’ yet. If and when the deal does go through, it could give Fisker the financial infusion it needs to make the Ocean electric SUV a reality.
In the meantime, Fisker is focused on completing its preparations for the CES unveil of the Ocean electric SUV so that the company can make its first move in the electric car market. Regardless of the outcome of the Foxconn deal, the future of Fisker looks bright.
