TAIPEI (Taiwan News) — The Fisker PEAR electric vehicle (EV) developed with the Foxconn Technology Group will start mass production in early 2025, reports said Wednesday (May 17).

Fisker, Inc., based in California and run by Danish car designer Henrik Fisker, described the car as an “agile urban EV,” with its name derived from the expression “Personal Electric Automotive Revolution.” The new EV will be built at a factory in Lordstown, Ohio.

The company plans to turn out 250,000 vehicles per year once it reaches regular production levels, according to a report by Fiskerati. The project hopes to benefit from Inflation Reduction Act (IRA) tax credits.

The number of parts for the PEAR is slated to be 25% less than traditional vehicles, allowing for quick assembly with lower carbon emissions, the report said. Fisker is also looking beyond 2025 to produce two additional variations on the original PEAR, including one carbon-neutral model by the end of 2027.

Foxconn has been working on a range of EVs with partners in various countries, including the Yulon Group in Taiwan, Lordstown Motors in the United States, and oil company PTT in Thailand.