Fisker Re-Emerges in EV Market With Affordable SUV

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Electric SUV

Electric SUV

Fisker, an early-entrant in the electric vehicle space, is attempting to return to the forefront with an announcement of an affordable SUV.

The manufacturing company, led by former BMU designer Henrik Fisker, revealed plans to compete against Tesla with a model based at $40,000, with a release date of mid-2020.

Fisker announced its intentions last week, saying that the product line will have three vehicle options, including a $129,000 luxury model which will release after the SUV.

"Our team set out on a mission to create an affordable EV that's more exciting and emotion-stirring than what the market has been offering," Fisker said. "We're now excited to be introducing a vehicle that truly reinvents the SUV."

The new vehicle is being promoted with an expected range of 300 miles between charges and will be sold online, direct to consumers, without dealership overhead.

Fisker said that there will be a drivable prototype for consumers to critics to evaluate released later in 2019.

This will mark the second attempt inside of the EV space for Fisker, which rose to early fame with its 2008 debut of the Fisker Karma. The Karma was a plug-in hybrid that was marketed for first delivery in 2011 -- and sold about 2,000 units -- before it was pushed out of production after its battery supplier declared bankruptcy.

According to Fisker, he has learned from past mistakes and has a further view into the future.

"We're investing heavily into next generation technologies, highlighted by our patented Fisker Solid-State Battery technology," he said. "Our team of scientists have been working tirelessly within our in-house labs, with remarkable results to date as we move toward vehicle testing with partners next year. We believe that super luxury vehicles must offer the absolute latest in emerging technologies. Our flagship, low-volume EMotion luxury electric sedan will be the first model to feature Fisker Solid-State batteries, targeted to deliver more than 500 miles of range with a single, quick charge.”

Fisker's first pass in the industry landed in bankruptcy and had its assets sold in 2013 to Chinese parts supplier, Wanxiang. After a brief legal battle stemming from Wanxiang also owning the battery maker that ultimately forced Fisker to close its doors. Wanxiang re-launched as Karma Automotive and based its Karma Revero plug-in off of the Fisker Karma technology.

Henrik Fisker retained the naming rights to his company and remained active in the technology industry.

Prior to its closing, Fisker had announced that it had built multiple concept cars. It had a Fisker Surf, Fisker Sunset, and Fisker Atlantic to go along with the Karma.

The Surf was a plug-in hybrid with an all-electric range of 50 miles, with an additional 250 miles when engaging the gasoline engine. Its Sunset model was a convertible hardtop based on the design of the Surf and shared many of its applications. Both were scrapped in favor of first producing the Karma.

The Atlantic was to be a next-step in electrification with an extended range based on a four-cylinder engine that was to act as a generator for the car. The vehicle, like the Surf and Sunset, was scrapped as financial considerations made it impractical for the company to continue expanding operations.

Fisker will join Lucid Motors in a race for the first-to-market on affordable SUVs as both trail Tesla in traditional vehicles with it boasting the Model 3 at $35,000 and Model Y -- a crossover -- at $39,000.

"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 EV – produced through a unique, profitable business model," Fisker added. "The Fisker team is thrilled to be playing a leading role in that revolution. The future success of EVs relies on creating an emotional connection with the consumer."

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