HomeTop MoversFisker Inc. (FSR) Leapt 18% In Early Trades - What Is Driving...

Fisker Inc. (FSR) Leapt 18% In Early Trades – What Is Driving The Stock Up?

Fisker Inc. (NYSE: FSR) stock is trading up more than 18% in early trades today after surfacing of an EV collaboration news. As of 10:35 a.m. EST, stock price was buoying at $19.30 rising +18.48%.

Why is this happening?


3 Tiny Stocks Primed to Explode The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.

We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.

Click here for full details and to join for free

Sponsored


The California-based company has revolutionized the automobile industry by creating some of the most desirable and eco-friendly electric vehicles in the world. Passionately striving for a clean future for all, the company is establishing itself as an industry leader in e-mobility.

The company today announced that it has entered into an agreement with Hon Hai Technology Group (Foxconn) to cooperate on developing a new breakthrough electric vehicle. Some aspects of the project that has been codenamed as PEAR (Personal Electric Automotive Revolution) are as follows:

  • Foxconn and Fisker will cooperate on the development of a breakthrough new class of vehicle.
  • The vehicle will be manufactured at a volume of more than 250,000 units per year by Foxconn.
  • Besides North America, Europe, and China, the global market of this project includes India.
  • The start of production is projected for the fourth quarter of 2023.
  • Fisker will be launching this second vehicle after launching its Ocean SUV in Q4 2022.
  • Foxconn and Fisker’s new collaboration with the automotive industry will introduce ICT capabilities into a revolutionary automotive business model.
  • By taking advantage of these opportunities, automakers will be able to transition to new, effective, and efficient manufacturing processes and business models.
  • Upon signing the Memorandum of Understanding, Fisker and Foxconn will form several joint units covering design, technology, engineering, and manufacturing.
  • Due to the rapid development schedule, both firms expect to come to an agreement on a formal partnership by the first half of 2021.
  • Fisker’s Ocean electric SUV is expected to go into production in the fourth quarter of 2022.
  • The interest in the Ocean continues to be strong, with more than 12,000 reservations made as of today worldwide.
  • It is expected that later this year Fisker will unveil the Ocean’s production-intent prototype.

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

Must Read

Related News

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Get The Best Stocks To Trade Every Day!

Join now to get the NewsHeater.com pre-market morning brief 100% free

SPECIAL GIFT

WE HAVE A GIFT FOR YOU

Download Free eBook For

7 GROWTH STOCKS FOR 2021

100% free. stop anytime no spam