Fisker on Wednesday provided a new look at an electric sports car currently being developed.

CEO and Chairman Henrik Fisker took to Instagram to post a teaser image showing the car along with the name Ronin, believed to be a code name only.

He also said the car will have a range of over 550 miles and a price tag starting below $200,000, figures that are close to what Tesla is promising for its redesigned Roadster.

A teaser image posted by Fisker in January points to the car being a convertible, or at least offering the option of a convertible top.

Teaser for Fisker Ronin electric sports car due in 2024

Teaser for Fisker Ronin electric sports car due in 2024

The sports car is one of at least two models being worked on at the U.K.-based Fisker Magic Works special projects division announced last fall. The other model is rumored to be a high-end SUV.

Fisker has confirmed that a prototype of the sports car will be rolled out in August 2023. Production is slated to begin the following year, though delays are a real possibility in the current environment.

Before the arrival of the sports car, Fisker will launch the Ocean crossover. The Tesla Model Y rival is undergoing its final tests ahead of the start of production at a Magna Steyr plant in Austria this November. U.S. deliveries will follow shorty after, with the first Oceans to arrive as 2023 models. Pricing is confirmed to start at $37,499.

Fisker will then launch a more affordable model code-named Project Pear. This model, also thought to be a crossover, is confirmed to start at $29,990. It will be built at a Foxconn plant in Ohio, with production slated to start in 2024.