Apple contract manufacturer Foxconn is partnering with Fisker Inc., a collaboration that could see the Taiwanese firm building Fisker electric cars for global markets beginning in 2023.

On Wednesday the two companies announced a memorandum of understanding for a jointly-developed "global electric vehicle project," to be manufactured by Foxconn, according to a Fisker press release.

Production of the unnamed EV is scheduled to start in Q4 2023, with annual volumes of 250,000 units. Fisker said the new model will target global markets, including North America, Europe, China, and India.

This will be Fisker's second model, following the Ocean SUV, which will be built by Magna in Europe. That company already contract manufactures the Jaguar I-Pace, as well as the BMW Z4 and Toyota Supra sports cars. Fisker switched to a Magna platform for the vehicle after negotiations with Volkswagen to use the automaker's MEB platform fell through.

Fisker Ocean

Fisker Ocean

Fisker unveiled the Ocean at the 2020 Consumer Electronics Show—long before it had secured a contract manufacturer. At the time, it quoted a $37,499 base price, meaning the Ocean will cost about $30,000 after the $7,500 federal EV tax credit.

Fisker has been taking reservations for the Ocean since November 2019, and went public through a special purpose acquisition company (SPAC) reverse merger in October 2020, but hasn't delivered a single vehicle to a customer yet.

In addition to the Ocean, a super-efficient "radical" pickup truck is coming in late 2023, potentially, Fisker has said, so it's not clear if the EV co-developed with Foxconn replaces that project.

Foxconn seems eager to get into the car business. It recently unveiled a complete EV platform, and has already aligned itself with another startup—Chinese firm Byton. Would you buy a car built by a company best known for making iPhones?