Fisker has reportedly secured roughly 1,500 reservations for the all-electric Pear EV it is set to introduce in 2024. The electric car manufacturer opened the order books for the Pear in mid-February. Shoppers can secure an allocation with a US$ 250 deposit for the EV which will start at US$ 29,900 when it goes on sale. If the U.S. government’s US$ 7,500 federal EV tax credit is still around 2024, the Pear’s starting price will drop to as low as US$ 22,400, roughly half the price of an entry-level Tesla Model 3.

While speaking with Auto News at an event in London, Henrik Fisker said the car manufacturer had started accepting deposits to show to its battery suppliers that it is making progress with the new EV. The Fisker Pear, which stands for Personal Electric Automotive Revolution, will be brought to life with the help of Foxconn. The car is expected to use Foxconn’s Hon Hai EV platform and will be built by Foxconn at the Ohio factory that it recently purchased from Lordstown Motors.

Technical specifications about the Pear remain a mystery, even to those who have placed reservations. It also remains unclear what shape the vehicle will take, although it is expected to be smaller than the Ocean SUV. Fisker refers to the Pear as an “agile urban EV.”