15. Fisker is Using Apple iPhone Manufacturer Foxconn | $FSR Buy or Sell?

Fisker, the self-proclaimed world’s most sustainable vehicle is off to a potentially powerful start. Foxconn Technology Group announced it will develop an electric vehicle with Fisker ($FSR), part of the manufacturer’s efforts to boost its automotive capabilities. The companies said the deal – codenamed “Project PEAR” (Personal Electric Automotive Revolution) – is expected to close in the second quarter of this year. It would be Fisker’s second major deal in recent months. The company already has a deal with auto supplier Magna to produce the Fisker Ocean, its first expected vehicle. Magna and Fisker expect to start production on the Ocean in the fourth quarter of 2022.