Rocky past in tow, Fisker promises a new electric SUV

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This. Marketplace podcast is brought to you by the university of Florida Warrington college of business transform your future with an MBA from one of America's top ten universities. Learn more at Warrington dot ufl dot EDU slash MBA and by brother Inc fest -ment tank printers. It's happened to all of us right before an important presentation. The printer runs out of ink brother Inc. Vestment tank printers help put a stop to this. And can literally change the way you Inc. Your choice of up to one or two years of ink included in box helps eliminate the expense and hassle of frequently buying and replacing in cartridges. Learn more at change the way you Inc dot com. There's a new electric SUV being developed by a charismatic visionary whose name dozen rhyme with tusk from American public media. This is marketplace tech demystifying the digital economy. I'm jed Kim in from Ali would. Hot on the heels of Tesla's model. Why announcement comes the news that carmaker fisker Inc? Also wants to make an electric SUV at about the same price celebrated sports car designer Henrik fisker started his own luxury electric vehicle company in two thousand seven for awhile. It even seemed he had the edge over rival tesla. Then came prediction of the karma in two thousand eleven the one hundred thousand dollar plug in sports car was widely panned and barely sold. It would take a whole lot going right for the fisker Inc. SUV announcement to Mark any kind of real turnaround. Chelsea Sexton is an electric vehicle industry advisor and advocate. She caught us up on the company's rocky history. Dan's it up going bankrupt and the assets for bought for a fraction of their value by Chinese firm who has reinstated the company as karma while fisker remained. His name now is trying again promising a forty thousand. Dollar SUV with three hundred miles of range inside of two years with a not very large company to begin with zero details about who is using for his technological or propulsion support and no manufacturing plant. So I think I'm probably not one of the only ones that's a little bit skeptical on the promise. What do you think he's making the move to an SUV? I think he's trying to raise money. I mean, generally speaking when we see these big bold promises from any of the startups, and there are many now and fisker is still a relative startup. It's usually an attempt to garner media attention and therefore raise funding, and it takes on average. Well, over a billion dollars to launch a car SUV is a means to an end. What is the end that? He's tried to leverage. What's interesting is that he is doing the reverse model of tesla and everyone else or is now claiming to where originally and what most do is start with a higher end vehicle and try to work their way down into something. That's economically affordable and the higher end vehicles produce more profit and therefore fund the next one down the chain just like roadster, and then model S an axe and now down to model three he's now saying he's going to hold off on the premium car and till after he delivers this affordable SUV and go the opposite direction that remains to be seen. And if he can deliver either one of them in any volume, and certainly take care of the after service and after-sales kinds of of needs that always get overlooked. So his endgame ultimately has to be credibility, his his lost most of that in the last several years in terms of being an actual automotive producer, or you know, CEO of a car company. He's still is a pretty designer. That's never really been in question. But whether or not he will ever be more than that is something he's still has to earn. Chelsea Sexton is an electric vehicle industry advisor and advocate note for his part, Hendrick fisker points out in an interview with Bloomberg that he has delivered a commercially produced plug in vehicle and learn first hand plenty of lessons to apply to his next project. That's not something many others can claim. And now for some related links fisker have been promising a hot new vehicle for a while now. But it was originally going to be a sleek sporty sedan the emotion we've known since September. That's he flagship vehicle would have to wait. That's when Henrik fisker told clean Technica Avia available at the lower forty thousand dollar price point would come. I just didn't say it wasn't SUV. He also talked about the solid state battery. He says the company is developing as their other main focus the battery would replace lithium ion technology, solid state batteries are at holy grail of sorts for e vs promising driving ranges way beyond three hundred miles and charging up in a matter of minutes. This ings batteries were originally scheduled for next year. But green car reports says it's looking more like twenty twenty two at the earliest fisker said in an E mail to those reporters initial timelines have always been targets targets not promises. I'm jay. Kim. And that's marketplace tech. This is a PM. Caroline in Brooklyn, New York wrote to tell us she's a longtime fan of marketplace, tech and appreciates the content and the mission thinks Caroline to join her in keeping marketplace tech going strong donate online today. Marketplace dot org, and thanks to Carolina and all the marketplace investors who make our work possible. 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