Foxconn is set to make electric cars in India with the NYSE-listed Fisker Inc., in the next couple of years.

Backed by Henrik Fisker, renowned designer of models like BMW Z8, Aston Martin DB9, Fisker is planning to initially set up a technology centre in Hyderabad, with a roster of over 300 engineers, and within two years, in a manufacturing alliance with Foxconn and make the electric 'global vehicle', Pear, in India. Fisker, an asset-light electric vehicle developer, has outsourced its manufacturing to the Taiwanese tech major Foxconn for the US, Europe and China markets excluding India.

Fisker’s first model SUV, Ocean, is set for a global launch in November is to be imported in India as a completely built unit. The company is setting up a local entity, starting with the tech centre before it locally manufactures Pear - its second model - through its collaboration with Foxconn. Pear, scheduled for launch in 2024-25, is a global vehicle' project for Fisker, and it is eyeing one million units globally from this model. Pear is likely to sport an entry-level price tag of around Rs 20 lakh and take on EV models from players like Hyundai and MG in India.

“Software development is a big strength in India,” says Henrik Fisker chairman and CEO.

The company initially began its India journey by recruiting engineers for its technology centre. An official announcement around the technology centre is likely to be made in a few weeks.

“Why India and China? Because this vehicle will start at under $30,000 (around Rs 22 lakh). So, it will be very affordable compared to what is available now, yet spacious with new types of storage spaces and technology that are not seen in its segment. And we can really only accomplish that if we eventually make a million vehicles a year,” Fisker says.

"When you look at the Indian population, the Indian market, they're extremely tech-savvy. I think India at one point, and I think nobody really knows when, but at one point it is going to explode when it comes to the adoption of electrification. Of course, the government has a big role in that. But I do think there's going to be pressure from the general population at one point in time to go electric,” adds Fisker.