Apple supplier Foxconn teams up with Fisker to make electric vehicles

FILE PHOTO: Fisker logo is seen on a Fisker Karma car at the "Auto 2016"car show in Riga, Latvia, April 15, 2016. REUTERS/Ints Kalnins

(Reuters) - Electric-car maker Fisker Inc said it will work with Apple Inc supplier Foxconn to produce more than 250,000 vehicles a year beginning in late 2023, sending its shares up 18%.

The deal, codenamed "Project PEAR" (Personal Electric Automotive Revolution), is looking at markets globally, including North America, Europe, China and India, Fisker said.