Fisker shares the surge in the electric vehicle deal with Apple’s iPhone assembler Foxconn

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

Source: NYSE

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

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

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

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