The EV boom has not gone as expected for many companies and a number of them have gone belly up including Arrival, Canoo, and Fisker. However, electric vehicle sales are climbing and there’s a new entry in the form of Perseus.

The British-based company has emerged from “stealth mode” and is being led by a team of former senior executives from Bentley, Lotus, Ineos Automotive, and Jaguar Land Rover. They’re planning to launch a “performance and technology-focused compact SUV” by late 2027.

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Set to compete in the premium segment, the Perseus SUV will be based on a “proven, state-of-the-art EV platform from a European OEM Group.” The company has also partnered with an Italian engineering and design firm to handle interior and exterior styling as well as development, prototyping, and testing. On top of that, the firm will be using a European contract manufacturer for production.

This is pretty smart as the company will use an existing platform as well as an established manufacturer. It also sounds like a lot of the work will be outsourced to a firm that specializes in vehicle design and development. This stands in stark contrast to the typical startup philosophy, where companies try to do everything themselves and burn through millions of dollars in the process.

We can expect to learn more in the coming months, but the teaser image shows a sleek crossover with a Genesis-like vibe and slender headlights. They’re joined by a long hood, which flows into a rakish windscreen. Elsewhere, there’s an angular shoulder line and what looks like flush-mounted door handles.

Little else is known about the EV at this point, but Perseus says it will have an “inspirational and emotive design, groundbreaking technology, engaging performance, and exceptional user experience with compelling value.” We can also expect artificial intelligence and “exceptional personalization.”

Perseus will embrace the direct-to-consumer sales model, which focuses on online sales and a handful of brand experience centers. The company will also lean on its automotive platform provider for a “European-wide service and maintenance network.”

Perseus Motor Corporation Founder and CEO Mohammed Yehya El Bakkali said, “The launch of Perseus marks an exciting new chapter in global automotive innovation. Our ambition is clear: to create a premium value British EV brand that delivers emotionally captivating design, cutting-edge performance and a best-in-class intelligent AI-enabled and software-defined customer experience.”