By Sam Boughedda
Investing.com -- Electric vehicle automaker Fisker Inc (NYSE:FSR) is now accepting reservations for its second model, the Fisker Pear, the company said Tuesday.
Fisker shares rose 5% following the news.
The PEAR, or Personal Electric Automotive Revolution, has a starting price of $29,900 for the five-passenger, all-electric vehicle, with deliveries expected to begin in 2024. Customers can reserve the PEAR for $250 for the first reservation and $100 for the second reservation.
The PEAR model is the result of a collaboration with Foxconn and is priced at less than Tesla's Model 3 and well below the $37,499 for Fisker's Ocean SUV, which the company expects to begin delivering in November. Fisker said the PEAR will be produced in Ohio with a minimum initial production of 250,000 units per year.
“We are opening up reservations for PEAR following continued demand," said Fisker's CEO, CEO Henrik Fisker.
“PEAR will feature the very latest technology in a beautifully designed, affordable urban mobility device,” he added.