Tesla Model Y gets Fisker Inc. rival

By TechnologyFOXBusiness

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Days after Tesla unveiled its Model Y, the mass-market electric sports utility vehicle is already facing potential competition from an upstart company ran by famed car designer Henrik Fisker who, like Elon Musk, aims to make affordable versions of emissions-free vehicles for the average consumer. 

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Fisker Inc. on Monday released plans for an all-electric SUV. Slated to begin shipping in the second half of 2021, the still-unnamed vehicle will have a range of roughly 300 miles and cost less than $40,000, the company said. In comparison, Tesla’s entry-level Model Y -- not expected to ship until the first half of 2021 – will max out around 230 miles on one charge.

“While other manufacturers have introduced beautiful, high-performance electric cars with high price tags, the real race is about who can deliver a truly high-volume, affordable, yet desirable [model],” Fisker said in a statement. “We’re delivering a desirable, luxuriously rugged and green vehicle – complete with unique new experiences and technologies – that’s accessible to people across the USA and the world.” 

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Fisker had originally intended to begin shipping an all-electric sedan as soon as the end of this year. Known as the EMotion, the rollout will be delayed until after the new, cheaper model is available. The luxury vehicle is expected to be able to drive 500 miles on a single charge.

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The company is still finalizing where it will locate the facility to manufacture the new all-electric SUV.