Fisker reveals Tesla Model Y rival

AutoExec Summary
Tesla has revealed its new Model Y compact SUV, but it may face competition from American electric car start-up, Fisker. Fisker plans to release a new compact electric SUV in 2021, with a price tag of $40,000, similar to the Model Y. The company also plans to develop a luxury electric sedan with solid-state batteries that can deliver over 500 miles of range. However, Fisker still needs to select a factory for production, and the success of its vehicles is uncertain. Meanwhile, Tesla CEO Elon Musk has emphasized the challenges of building mass market vehicles, suggesting the difficulty of Fisker’s plans.

Brands mentioned: Tesla, Fisker, BMW, Aston Martin, Mercedes