Fisker to start reservations for second EV

Fisker Inc. on Tuesday said it was opening reservations for its second product, a five-passenger EV aimed at younger consumers, with the price starting at $29,900.

The Pear, or the Personal Electric Automotive Revolution, will begin deliveries in 2024, Fisker said.

The company's first vehicle, Ocean crossover, is expected to start production in November 2022 and is said to have higher driving ranges than rival Tesla Inc's Model Y vehicles.

EV makers and legacy automakers are rushing to bring to market new launches and ramp up production as they try to cement a spot in the fast-growing EV space and take on industry leader Tesla.

Fisker said it has partnered with Foxconn to produce Pear and will be manufactured in Ohio with a minimum initial production of 250,000 units per year.