Fisker on Thursday announced it will source an electric vehicle from a former General Motors plant in Lordstown, Ohio, which was acquired last fall by Taiwanese contract manufacturer Foxconn—yes, the same company that builds iPhones for Apple.

The vehicle in question is an urban runabout code-named Project PEAR, which Fisker plans to launch in 2024 with a starting price of $29,900. The company targets annual production of 250,000 units for the EV.

Fisker first hinted at building the PEAR under contract at the Lordstown plant last fall but the plan was always dependant on Foxconn's successful acquisition of the Lordstown plant from struggling EV startup Lordstown Motors which originally acquired the plant from GM. Under a separate deal reached with Lordstown Motors, Foxconn will also build Lordstown Motors' Endurance pickup truck under contract at the plant.

The PEAR will be Fisker's second vehicle. The first is the 2023 Ocean crossover which is due to start production this fall. Production of the Ocean has been outsourced to Austria's Magna Steyr.

2023 Fisker Ocean

2023 Fisker Ocean

The PEAR's code name is an acronym for Personal Electric Automotive Revolution, and Fisker has described the vehicle as an “agile urban EV.” It will measure about 177 inches long, or a bit shorter than compact EVs like the Hyundai Ioniq 5 and Volkswagen ID.4, and be able to seat five. Fisker also said the vehicle will feature intuitive controls, sporty driving characteristics, and a “focus on industry firsts.”

Fisker said the PEAR will ride on a new platform, though one thought to be derived from a modular platform originally developed by Foxconn. Fisker said the platform will underpin two more models beyond the PEAR. The Ocean uses a separate platform sourced from Magna Steyr.

“The PEAR will be a revolutionary electric vehicle that won’t fit into any existing segment,” Henrik Fisker, Fisker's chairman, CEO and founder, said in a statement.

Fisker is known to be working on at least two additional vehicles, though these are high-end vehicles with limited production. One is a sports car code-named Ronin, a teaser for which was released earlier in May. The other is thought to be an SUV.