Fisker
Image credit: Fisker

Hot on the heels of Tesla’s newly announced Model Y SUV, once-beleaguered electric carmaker Fisker has revealed that it pick up the gauntlet once again with a new SUV scheduled for production in 2020.

Fisker were early Tesla-competitors, and the first choice for celebrities like Leonardo DiCaprio and Ashton Kutcher, before declaring bankruptcy in 2013, and selling all their assets to a Chinese firm.

The move could relaunch the brand, led by former BMW designer Henrik Fisker, this time under a new company, Fisker Inc will be priced at around $40,000 giving the Tesla Model 3 and Model Y some price-based competition.

The predecessor company left behind $139 million in debt – mostly to the US government.

The company said it is "currently finalising the selection of a facility, located in the United States, to produce the all-electric SUV."

The new car will have an estimated range of 200 miles, less than Tesla’s anticipated SUV.

The company projects to eventually have three different vehicles.

"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," Henrik Fisker said in the statement.

"We're now excited to be introducing a vehicle that truly reinvents the SUV."

Fisker is among several global startups making strides into the electric vehicle market, which is expected to grow massively in the near-future.

The move by Fisker comes as Tesla ramps up efforts for more affordable electric cars, including a Model 3 priced at $35,000 (roughly R500,000) and a Model Y SUV starting at $39,000 (roughly R560,000).