Fisker relaunches Tesla rivalry with USD 40k electric car

Fisker, the electric car brand which was an early rival to Tesla, announced Monday it would produce a new sport utility vehicle priced below USD 40,000 that will be available next year.

The move could relaunch the brand which attracted celebrity buyers before a 2013 bankruptcy.

The brand led by former BMW designer Henrik Fisker underwent a lengthy restructuring and its latest move suggest it is out to revive its challenge to Tesla in the market for mass-market electric vehicles.

Fisker, which made its announcement in a press release with images of the new vehicle, said a drivable prototype would be available later this year.

Like Tesla, Fisker will sell directly to consumers without dealers. The company said it is "currently finalizing the selection of a facility, located in the United States, to produce the all-electric SUV."