Fisker is still preparing to deliver its sub-$40,000 electric Ocean (pictured above), but it’s also signed an agreement solidifying plans with Foxconn to build more cars. We still have little more than sketches to go on for what the Project Pear vehicle will be, but the “breakthrough new segment vehicle will use a new lightweight platform and cost less than $30,000.

According to a statement, the companies are jointly investing in the vehicle, and will share the proceeds. The plan is to start manufacturing in the US first, although it’s not confirmed whether or not Foxconn’s Wisconsin site will play a part. Manufacturing is scheduled to start in Q4 of 2023, so it will be a while before they hit the road.