Fisker Inc. this week said it will launch the Fisker Ocean Electric SUV at $37,499 in the U.S.

Reservations are set at $250 for a full price purchase or lease program. After a U.S. federal tax credit, the cost of the Fisker Ocean falls to $29,999. The lease program will start at $379 per month with a $2,999 down payment.

The company says it has secured a global and localized supply chain to produce more than one million vehicles between 2022 and 2027.

The Fisker Ocean Electric SUV will yield a range of 250 to 300 miles from an 80 kWh lithium-ion pack.

It vehicle features a full-length solar roof, recycled carpeting, a vegan interior, and eco-suede.

Fisker is targeting production by the end of 2021 and high-volume deliveries in 2022.