The man behind failed plug-in hybrid luxury car company Fisker Automotive and its Karma hybrid sedan is back with an all-electric vehicle aimed directly at the upcoming Tesla Model Y and Ford Mustang Mach-E.

(Fisker)

After he departed his previous namesake company and its assets were purchased out of bankruptcy by Chinese automotive conglomerate Wanxiang and rebranded Karma Automotive, car designer Henrik Fisker launched a new endeavor called Fisker Inc., which has developed the Ocean SUV that is making its debut at CES.

(Fisker)

Fisker says the compact crossover will boast a range of 250 to 300 miles per charge at a base price of $37,499, or $29,999 after the currently available $7,500 federal tax credit. The entry-level Model Y is expected to start at $39,000, but will not be eligible for the incentive because Tesla has sold so many cars in the previous decade that its allotment has run out. The Ford Mach-E starts at $44,995 and will be eligible for the credit at launch.

(Fisker)

The Ocean features a relatively conventional four-door, five-passenger hatchback layout but has several unusual features. These include vegan interior trim and solar panels on the roof panels that can generate up to 1,000 miles worth of electricity each year. The Ocean also has a window in the hatchback that can be rolled down to provide access to the cargo area or an enhanced open-air driving experience Fisker calls “California Mode” when opened in conjunction with the side windows and roof panels.

(Fisker)

All-wheel-drive and performance versions will be available, the latter capable of accelerating to 60 mph in less than three seconds. The Ocean is also equipped with camera and radar systems, but Fisker has yet to detail what level of autonomous driving capability it will offer.

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Fisker also hasn’t said exactly where the Ocean will be built, but the company claims to have a global manufacturing plan in place that includes the U.S. and is aiming to start sales in late 2021. A flexible lease also be available for $2,999 down and $379 per month that can be canceled at anytime and comes with 30,000 miles annually and maintenance included.

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