Draganfly Inc
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*Nasdaq FSI: *Deficient: Issuer Failed to Meet NASDAQ Continued Listing Requirements

Based in Canada
Company profile

Draganfly Inc. is a manufacturer, contract engineering and product development company within the unmanned aerial vehicles space, which serves the public safety, agriculture, industrial inspections, and mapping and surveying markets. It manufactures multi-rotor helicopters, industrial aerial video systems and civilian small unmanned aerial systems or vehicles. The Company’s products include Quadcopters, Draganfly Commander2, Vital Intelligence, Quantix Mapper, Tango2, Payloads and Sensors, Universal Control System and Software. Its services include custom engineering, training, flight services, data services and varigard spraying. The Company’s wholly owned subsidiaries include Draganfly Innovations Inc., Draganfly Innovations USA, Inc. and Dronelogics Systems Inc.

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-0.015 (-1.46%)
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Fisker, Foxconn confirm build of compact EV in Lordstown plant

11:29 am ET May 12, 2022 (MarketWatch)

By Claudia Assis

The Fisker Pear would cost about $30,000 and come with a cockpit-inspired windshield

Fisker Inc. confirmed Thursday that Foxconn will build its second car, a compact EV, at a newly acquired plant in Lordstown, Ohio.

The Fisker (FSR) Pear will enter production in 2024 and cost about $30,000. After a production ramp, at least 250,000 Pears a year will be built at the plant, the companies said, without specifying a date.

Taiwan's Foxconn, also known as Hon Tai Technology Group , and Lordstown Motors Corp. (RIDE) late Wednesday announced that the sale of Lordstown Motors's plant to the electronics contract maker had closed.

The companies also signed a contract manufacturing agreement and announced an EV joint venture. Foxconn is better known as the maker of Apple Inc.'s (AAPL) iPhone, in addition of several other marquee-name electronics, and its deal with Lordstown Motors gives it an entry into the EV market.

Shares of Lordstown Motors rallied more than 30% after the announcements, and are up another 35% on Thursday. The company had been dogged by concerns it could have run out of money if the sale had fallen through.

Fisker, whose business model is to bring in house design and consumer-facing components but leave the manufacturing to contractors, has inked deals with Foxconn as well as Magna International Inc. to build its EVs.

The Irvine, Calif., company described the Pear as "a revolutionary electric vehicle that won't fit into any existing segment."

It plans on using new lighting technology and "a wraparound front windscreen inspired by a glider plane glass canopy, enhancing frontal vision," Fisker Chief Executive Henrik Fisker said in a statement. Fisker said he will visit the Lordstown factory with a team of engineers on Friday.

Fisker, which became public in 2020 through a merger with a blank-check company, hopes to start production of the Fisker Ocean, the luxury SUV that would be its first EV, in Austria in November.

Fisker said in March that reservations for the Ocean continued "at an elevated pace" and had totaled more than 45,000 preorders, including 1,600 fleet reservations.

-Claudia Assis


(END) Dow Jones Newswires

May 12, 2022 11:29 ET (15:29 GMT)

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