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Fisker Strikes Partnership With Foxconn's Sharp Unit To Make EV Displays

Fisker Strikes Partnership With Foxconn's Sharp Unit To Make EV Displays

Fisker Inc. (NYSE: FSR) stock announced Monday a manufacturing partnership for screens for its vehicles.

What Happened: California-based Fisker said it has selected Hon Hai Precision Industry Co., Ltd.'s (Pink: HNHPF) Sharp unit to develop technologies supporting next-generation in-vehicle screens and interfaces.

The companies will also co-create technologies, with Sharp manufacturing screens and components for Fisker's Ocean SUV , Project PEAR and potentially two additional Fisker vehicles.

"The nomination of Sharp brings another world-class partner into our product development and technology ecosystem," said Fisker Chairman and CEO Henrik Fisker.

Related Link: EV Stocks: Why BofA Is Bullish On Fisker, Bearish On Velodyne

The collaboration with Sharp will create new automotive display systems featuring innovative backlight solutions to improve illumination without increasing power consumption, according to Fisker — in addition to class-leading resolution, bezels and design.

Why It's Important: Fisker said it will unveil a production-intent prototype of its Ocean electric SUV at the Los Angeles Auto show later this year. Production and deliveries are expected to commence in the fourth quarter of 2022, the company said. 

Last week, Fisker and Foxconn signed framework agreements for Project PEAR — a new segment vehicle to be developed jointly by the companies and sold under the Fisker brand in global markets, including North America, Europe, China and India.

U.S. production of this second vehicle model from Fisker's stable is slated for the fourth quarter of 2023.

At last check, Fisker shares were trading 4.57% higher at $10.98. 

Related Link: Fisker, Lordstown Could Be EV Latecomers, Goldman Sachs Says In Downgrade


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