The Wall Street Journal: Foxconn to build cars for electric-vehicle startup Fisker

Foxconn Technology Group
2354,
+1.29%
,
the world’s biggest electronics contract manufacturer, has agreed to assemble cars for electric-vehicle startup Fisker Inc.,
FSR,
+21.36%

the latest deal for the Apple
AAPL,
-0.96%

iPhone assembler in its eager expansion into the automotive sector over the past year.

Taipei-based Foxconn and Los Angeles-based Fisker have signed a memorandum of understanding to jointly produce more than 250,000 vehicles a year, the companies said in a statement Wednesday.

While the exact location has yet to be determined, Fisker Chief Executive Henrik Fisker said there is a very good chance initial production will be in the U.S., in part because Foxconn already has a factory in Wisconsin.

“They’ve got a factory there and quite a lot of land with quite a lot of possibility for expansion,” he said in an interview. “We haven’t made a final decision on that but that’s an obvious one.”

An expanded version of this article appears on WSJ.com

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