Fisker unveils electric SUVs to beat Tesla over driving range

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LOS ANGELES, Nov 17 (Businesshala) – US startup Fisker Inc. (FSR.N) on Wednesday unveiled electric sport utility vehicles, claiming they have a greater driving range than Tesla Inc. (TSLA.o) Model Y vehicles. Will be

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With plans for production of its Ocean electric SUV next November, Fisker is set to join peer Lucid Group Inc (LCID.O) to challenge Tesla’s lead in battery technology.

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Automakers and battery makers are racing to increase production and develop advanced electric-vehicle batteries – key components of EVs whose demand is expected to increase in the coming years.

Fisker said it has leveraged Chinese battery maker CATL’s technology to achieve an estimated driving range of more than 350 miles per charge for its most expensive Ocean Extreme SUV, which costs $68,999, and for its Ocean Ultra 340 miles, which costs $49,999.

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In comparison, Tesla’s Model Y Long Range has a driving range of 330 miles and costs $58,990.

Fisker’s two high-end ocean models will use nickel-based battery chemistry, while its most economical version will use cheaper iron-based chemistry. Fisker said the base Ocean Sport model will cost $37,499 and achieve a driving range of 250 miles per charge.

Lucid Group Inc. (LCID.O), a California-based startup led by former Tesla engineer Peter Rawlinson, began deliveries of the Air Luxury electric sedan with a Tesla-beating driving range last month.

The Los Angeles Auto Show opened on Wednesday, becoming the first major US auto show since the pandemic crisis.

Fisker was launched by one-time Aston-Martin designer Henrik Fisker, whose previous venture, Fisker Automotive, collapsed in 2013. Fisker also struggled to recall batteries made by its first supplier, A123, which later filed for bankruptcy and was eventually acquired by China’s Wanjiang Group.

Reporting by Hyunju Jin; Editing by Sherry Jacob-Phillips

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