Foxconn is expected to build more than 250,000 vehicles annually as part of the Fisker partnership, according to a statement from the companies.
The Ocean will be built by Magna International’s Magna Steyr in Graz, Austria, where the contract manufacturer also builds cars for BMW, Mercedes-Benz, Toyota and Jaguar.
Fisker said no decision had been taken on where the second model developed with Foxconn will be built. He said he envisaged the car would be built in “several places” around the world.
“The acceleration we have in terms of product is only possible with multiple partners, and multiple existing manufacturing facilities,” Fisker said.
Foxconn in October introduced its first EV chassis and a software platform aimed at helping automakers bring cars to the market faster, but Fisker would not say whether the new model would use that platform. The Ocean will use a platform developed by Magna.
“Foxconn will take the lead in manufacturing supply chain and we will take the lead in design, development, distribution and branding,” Fisker said.
Foxconn and Fisker will jointly invest in the model, Fisker said.
The two companies have not discussed Foxconn taking a stake in Fisker as Magna International has done. As part of the deal to build the Ocean, the supplier will receive warrants to purchase a stake of up to 6 percent in Fisker, worth about $3 billion.
In January, Foxconn signed a manufacturing deal with Chinese electric-vehicle startup Byton to start mass production of the Byton M-Byte by the first quarter of 2022.
A week later, Foxconn and Zhejiang Geely Holding Group said they would join forces to provide production and consulting services to global automotive enterprises.