Return of Ex-Tesla rival: Fisker launches new electric car company

Henrik Fisker, whose previous automotive venture collapsed in 2013 owing U.S. taxpayers $139 million, stated on Tuesday he plans to introduce a brand-new electric vehicle firm next year to take on Tesla.

Fisker has not stated who is funding his new California-based venture, called Fisker Inc, and a brand-new battery subsidiary, Fisker Nanotech.

The Danish automobile designer’s former venture, Fisker Automotive, used to be a rival to Tesla Motors Inc in the nascent market for electric high-end vehicles. Established in 2007, Fisker Automotive built fewer than 2,000 cars through 2012 while utilizing through $1.4 billion in private financial investments and taxpayer-funded loans from the United States Department of Energy. Fisker left that business in March 2013, prior to it submitted for bankruptcy protection.

In 2014, Fisker was bought out of bankruptcy by Chinese automobile parts maker Wanxiang Group and relabeled Karma Automotive. Wanxiang likewise obtained bankrupt U.S. battery maker A123. It relaunched the Fisker Karma gasoline-electric hybrid cars in August as the Karma Revero.

In an interview, Fisker informed his brand-new company prepares a battery-powered design targeted at the Tesla Model S, which is priced at around $65,000. He did not specify when production would start.

A 2nd smaller sized Fisker electric car will follow, Fisker stated, and will target the upcoming Tesla Model 3, which is anticipated to being at around $35,000.

Fisker stated his brand-new electric automobiles will be powered by a long-range battery that utilizes graphene to extend its range and life and lower charging time. The automaker is targeting a 400-mile driving variety between charges, Fisker stated.

Fisker also stated his brand-new venture is not in in touch with Wanxiang.