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PHOTO CAPTION: Tesla Model S is pegged to cost in the mid $50K-range before any gov't incentives.

Plug-in Competition Heating Up with $39K Fisker Model

With the announcement of a $39,000 model, Fisker is challenging the likes of both Tesla and its Model S and GM's Volt.

Published: 17-Sep-2009

SAUSALITO - Fisker Automotive Inc, a builder of luxury plug-in hybrids, will launch a sedan car in 2012 that will sell for $39,000, a major investor in the automaker said on Tuesday.

The privately held startup would likely refurbish a factory in the United States to build the vehicle and is aiming to produce 100,000 of the lower-cost plug-in hybrids, Ray Lane, Managing Partner, Kleiner Perkins Caufield & Byers, told Reuters in an interview.

U.S. and many global automakers are betting that battery technology will make electric cars the environmentally friendly transportation of the future, and the switch to electric engines has drawn a wave of new companies into the auto industry, including Fisker and Tesla in California.

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