Autos

Fisker shares surge on EV deal with Apple iPhone assembler Foxconn

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The New York Stock Exchange welcomes Fisker Inc. (NYSE: FSR), today, Monday, November 9, 2020, in celebration of its recent IPO.

Source: NYSE

Shares of electric vehicle start-up Fisker surged more than 20% in morning trading Wednesday after the company announced a manufacturing deal with Foxconn Technology Group.

The two companies have signed a memorandum of understanding for the Taiwan-based electronics contract manufacturer, best known for assembling Apple iPhones, to produce more than 250,000 electric vehicles a year for Fisker, according to a joint announcement Wednesday from the companies.

Fisker, which went public through a reverse merger last year, has a market cap of $5.26…



Source cnbc.com

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