Foxconn
Taiwanese contract electronics manufacturer.
Foxconn, formally Hon Hai Precision Industry, is a Taiwanese contract electronics manufacturer whose 2021 framework agreement to build 250,000 electric vehicles a year for US startup Fisker collapsed without a final manufacturing contract before Fisker's 2024 bankruptcy.
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Foxconn, formally Hon Hai Precision Industry, is a Taiwanese contract electronics manufacturer best known for assembling consumer devices at scale for major technology brands. It is one of the world's largest contract manufacturers by revenue, with a business model built on converting a customer's design into mass-produced hardware rather than developing its own consumer products.
The company's 2021 framework agreement with US electric-vehicle maker Fisker to build 250,000 PEAR crossovers a year never reached a final manufacturing contract before Fisker's 2024 bankruptcy. That outcome is now cited within the industry as a caution against treating early production-capacity announcements between investors and manufacturers as booked orders, a distinction relevant whenever a new hardware venture announces a manufacturing partner ahead of any confirmed production contract.