A few months after the announcement that Fisker Automotive will reboot the Karma Revero, the company’s namesake Henrik Fisker says he is starting a new car company, called Fisker Inc., to produce anelectric sports car that can travel over 400 miles between charges, a huge jump over existing EV ranges. Although the company hasn’t volunteered a solid launch date for such a vehicle, or any other details to speak of, Bloomberg reports that we’ll all learn more sometime in mid-2017.

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The Danish automotive designer told Bloomberg that his next EV offering will “look completely different” and will be “sporty and spacious.” While there’s no word on the initial cost of a technologically advanced EV with a 400-mile range, Fisker suggested there will be a mass market version priced around $40,000. That’s a pricepoint low enough to compete with the Tesla Model 3, which debuted at $35,000 (but ‘only’ has a 215-mile range).

Related: The Fisker Karma – a candidate for resurrection or DOA?

Fisker has a long history in the automotive industry, having designed iconic cars for BMW, Aston Martin, and VLF Automotive. The CEO announced his new company in a Twitter update on Monday, October 3, saying, “The Original Fisker is back. I am very proud to be launching Fisker Inc. With a game changing battery technology.”

Much like Tesla, Fisker will be producing its own electric car batteries as Fisker Nanotech. Reportedly, the company is working on graphene-based battery technology, which is a longer lasting alternative to lithium ion that has also been shown to charge much faster. “For the last two years, I have been looking at battery technologies and wanted to see if there was something that could really give us a new paradigm,” Fisker told Bloomberg. “We had the strategy of developing the technology as fast as possible without getting tied down to a large organization, which would hold us back. Now we have the technology that nobody else has. And there is nobody even close to what we are doing out there.”

Via Engadget

Images via Fisker Inc and Twitter via screenshot