If you want to cross-shop the 2020 Tesla Model Y with another electric crossover, your options are limited right now. Affordable options like the Chevrolet Bolt and Nissan Leaf trail the Model Y on space and range, the Volkswagen ID.4 isn't on sale just yet, and luxury alternatives like the Audi e-Tron and Jaguar I-Pace are more expensive. Amongst the automakers looking to take a cut out of Tesla's pie, Fisker looks like it has a good chance with its new Ocean SUV.

Revealed at the beginning of this year, the 2022 Fisker Ocean will start at only $37,499 and offer a targeted range of 250 to 300 miles. Fisker reportedly began talks with VW and Magna to produce the Ocean on time, and now the automaker has officially announced that it has found a partner to manufacture the car.

Fisker will partner with Magna International for platform sharing and production of the new Ocean SUV. Magna is well-known in the industry for building vehicles like the BMW Z4, Toyota Supra, and Mercedes-Benz G-Glass. By combining Magna's architecture with its intellectual property, Fisker says the Ocean will be on track for Q4 2022 production. The partnership also ensures Fisker's bold affordable pricing claims and a flexible lease model will be attainable.

"We chose to leverage the Magna EV architecture after detailed due diligence on several options - and in consideration of our own product and technology strategy. Further, having Magna take such a committed position in the project and our company demonstrates the depth of this cooperation," said Henrick Fisker, CEO of the automaker.

"Combined with our own Fisker developed IP, the new FM29 platform is projected to deliver class-leading range, interior space with third-row seating, and overall vehicle performance. These factors, combined with capital investments, Bill of Materials, and manufacturing costs, will enable us to deliver the Ocean to market at a starting MSRP of $37,499."

Fisker-Flexible Platform Adaptive Design (FF-PAD) will arrive first on the Ocean, but could also serve as the basis for future vehicles. The Fisker Ocean is set for production by Magna in Europe and the two companies plan to work together work to develop new technologies. Overall, this news is positive for Fisker, but it means Tesla has at least two more years to prepare for the competition. By that point, the Ocean may be too late.