Karma
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Karma Automotive is preparing to release the 2020 refresh of the Revaro. The current car uses GM's 2.0 liter 4-cylinder as a regenerator to charge the 21.4 kWh battery while underway. The battery then powers a pair of electric motors in the rear that produce a combined 403 horsepower letting the Revero dart to 60 in just 5.4 seconds. Range in full EV mode is about 37 miles, so says the EPA. In a press release, Karma has announced that the the refreshed Revero will now move to a 1.5 liter BMW 3-cylinder to support a new, more powerful NMC lithium-ion battery pack. The rear drive unit is being replaced as well with a new twin-motor rear drive module. In the 2020 car…
Last reply by A Horse With No Name, -
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Karma released a teaser image of an unnamed concept car that will be fully unveiled at the Shanghai Auto Show on April 16th. The car is the result of a partnership with Pininfarina. The front view of the car shows thin, horizontal daytime running lamps in presumably LED, a lighted logo, and a deep lower air spliter with 16 vertical teeth. Also being shown at Shanghai will be a refreshed version of the Karma Revero. View full article
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With all the attention on the upcoming Tesla Model 3, most eyes have missed the upstart quietly pumping iron over in a shadowy corner; the Fiskar eMotion. Claimed to be a number of things, such as : • On schedule for production for 2018 • 400 mile range with a 9-min full recharge due to a proprietary "new advanced graphene supercapacitor instead of a traditional lithium-ion battery pack." • 161 MPH top speed • FOUR butterfly doors Remains to be seen in what configuration it gets here in, but Henrik Fiskar is claiming a price point comparable with the Model 3. Should be interesting... KBB article : https://www.kbb.com/car-news/all-the-latest/2…
Last reply by oldshurst442, -
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It seemed this day would never come, but the Fisker Karma has risen from the ashes to become the Karma Revero. Thanks to Chinese supplier Wanxiang buying the assets of Fisker Automaker back in 2014, the company would be renamed to Karma Automotive and work would begin on the resurrection. There aren't any real changes of note for the exterior aside from new badging and the 'Revero' name on the fenders. The interior does see a big change with a new infotainment system. The new system runs at 60 frames per second, can be updated over-the-air thanks to a dedicated 4G connection, and will feature Apple CarPlay and Android Auto support in the near future. …
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What is the best way to sell a vehicle? Is it through a dealership or a factory store? For Karma Automotive - the reincarnation of Fisker - plans to do both. Automotive News reports that by the end of this year, 10 franchised dealerships in key markets around the U.S. and Canada will begin selling the Revero. The dealers picked already sell brands like Bentley, Rolls-Royce, Lamborghini, and Porsche. "These guys really understand this customer. They get that it's not moving metal and pushing volume like the mass-market guys have to," said Jim Taylor, Karma's chief marketing officer. Alongside the dealers, Karma will have a few brand experience centers" (aka …
Last reply by G. David Felt, -
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It has been awhile since we heard anything from Karma Automotive - the company formally known as Fisker. Our last report in November said the company would be sourcing powertrain parts from BMW and was planning to restart production in 2016. Yesterday, the Wall Street Journal published a report saying Karma Automotive is busy with finishing development of an updated version of the Karma sedan. The sedan will be renamed the Revero which Karma says is the combination of the Latin words "re" and "vero," meaning truth. Karma is planning to reveal the Revero later this summer, with the order books opening sometime later in the year. Karma is keeping quiet on various de…
Last reply by G. David Felt, -
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Karma Automotive - the company formerly known as Fisker - announced a new partnership with BMW this week. The partnership will see BMW proving Karma with powertrain components moving forward. Now the full extent of the deal is unknown. But according to the statement released by Karma this week, the deal will include "high voltage battery charging systems and a wide range of hybrid and EV systems." "The Wanxiang Group is giving Karma Automotive the opportunity to bring a stunning car back to the market, and the partnership with BMW and their outstanding track record is a great fit for the future," said Tom Corcoran, Karma Automotive's CEO. Karma Automotive is p…
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Back in February, we reported on the rumors that Fisker Automotive was planning to change its name to Elux. This past week, Fisker has officially changed its name and it isn't Elux. Meet Karma Automotive. The company says this name has always been a part of the brand - see Karma plug-in hybrid sedan. "Karma is based on the principle of cause and effect, where your actions create your future. This awareness of what we are doing and why we are doing it—which we characterize as acting with intention—is what we stand for, it's authentic," said James Taylor, Karma's Chief Marketing Officer. Rumor has it that production of the Karma sedan will restart sometime next …
Last reply by G. David Felt, -
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Since being bought by Chinese auto parts supplier, Wanxiang Group, Fisker Automotive has been quietly ramping back up with a new headquarters in Costa Mesa, CA, and an upcoming factory in Moreno Valley, CA. But one item that has been up in the air is when production of the Karma would restart. Speaking with The Oakland County Register, Fisker's chief marketing officer Jim Taylor said the automaker will relaunch sometime in the middle of 2016. “We want to be out next year. Midyear is our target. That’s what we’ve told the plants and our suppliers, but we won’t make any promises to say this is our launch date, get ready,” said Taylor. There is still a number of item…
Last reply by oldshurst442, -
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California's affinity for technology, style and perceived environmental consciousness appears to have earned it some Karma. China's Wanxiang Group has announced plans to build the Fisker Karma luxury sports sedan in Moreno Valley. The 555,670 square foot Greater Los Angeles Area manufacturing facility is slated to create 150 jobs. “California's natural beauty, trend setting, technology, and environmental focus are perfectly aligned with our Karma re-launch,” said Fisker's chief marketing officer, James Taylor, adding that the company "believes in the quality, work ethic and competitiveness of manufacturing in the United States.” The plug-in hybrid Karma won ac…
Last reply by Drew Dowdell, -
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It has been awhile since we heard anything out of Fisker and its new owner, the Wanxiang Group. But Reuters has learned some new information about what could be in store. Two sources tell Reuters that Wanxiang is planning to drop the Fisker name and use Elux. So instead of the Fisker Karma, it could be called the Elux Karma. Speaking of the Karma, Reuters also learned that Wanxiang has pushed back the launch of the Karma to mid-2016 and will raise the price to $135,000. Sources also revealed that the Karma will not be built in Finland and that new production site hasn't been finalized. Source: Reuters View full article
Last reply by G. David Felt, -
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Fisker's new owner, the Wanxiang Group wants to get the Fisker Karma back on the marketplace as soon as possible. How fast? According to a report from Reuters, the company is planning to stick with the original 2012 design. A source tells Reuters the reason for sticking with the older design is due to not going through crash testing and certification again. "It will have to be nearly identical to the 2012 model, or it would need to go through (safety) testing and certification again. I don’t think they want to put a lot of engineering into it either, as well as probably use up some of the old parts that are in inventory," said the source. However this plan presents a p…
Last reply by G. David Felt, -
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Fisker, the automaker that doesn't seem to die is back in the news. This past week, the Wanxiang Group, Fisker's new owner, went on tour of the U.S. to met with officials and politicians in several states about plans. At one of the stops, Chairman Lu Guanqiu and President of the U.S. unit, Pin Ni spoke to reporters. Ni explained that company is planning on starting production of the Karma in the near future. But before then, the company needs to fix 250 “bugs” in the Karma and have a 'reliable supply of high-quality components'. "At Fisker, the biggest issue is to solve the problems. There are about 250 bugs in this we need to de-bug. I often say that Wanxiang can afford…
Last reply by §carlet §wordfish, -
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Lu Guanqiu is the chairman and founder of China's Wanxiang Group Corp., which happens to be the new owner of Fisker Automotive. In a interview with Bloomberg, Lu says the company will be making significant investments into the troubled automaker. "“I’ll put every cent that Wanxiang earns into making electric vehicles. I’ll burn as much cash as it takes to succeed, or until Wanxiang goes bust.” That's saying something in the least. But the question is when will we see Fisker vehicles coming off the production line? "The road is still very long. We want to concentrate for now on manufacturing in the US. If I don't succeed, my son will continue with it. If he doesn't make…
Last reply by G. David Felt, -
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Fisker's new owner, the Wanxiang Group out of China plans to restart production of the Karma plug-in hybrid sedan within a year or so. Pin Ni, head of the U.S. unit for Wanxiang tells Reuters the company plans on restarting production in Finland possibly this year and sell them in U.S. and Europe. At the moment, Ni says the company is working on finalizing business plans for the brand and hasn't worked out what the sales target for the Karma will be. Ni went onto say that production could move to the U.S. with with "a potential partner out of Michigan." That possible partner could be VL Automotive, the company who is taking Fisker Karmas and dropping in V8 engines. Alon…
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After three days and nineteen rounds of bids, China’s Wanxiang Group emerged as the new owner of Fisker, beating out Hybrid Tech Holdings LLC, the original winner of Fisker Automotive back in November. The winning bid was $149.2 million, about six times higher than the original sale price of $25 million. The auction came after a ruling made by U.S. Bankruptcy Judge Kevin Gross last month. Gross rejected the original offer made by Hybrid Tech Holdings LLC of $25 million for all of Fisker's assets. Now the bid has to be approved by Gross for Wanxiang Group to become Fisker Automotive's new owner. That will happen this week. Source: Bloomberg William Maley is a staff wri…
Last reply by G. David Felt, -
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Nothing ever seems to come easy for Fisker. Back in November, we reported that Hybrid Tech Holdings, LLC, a company founded by Hong Kong investor Richard Li, had purchased Fisker's assets from the Department of Energy for $25 million. It seemed that this chapter in Fisker's turbulent life had come to close. But this past week, the chapter was ripped opened. In a hearing last week, U.S. Bankruptcy Judge Kevin Gross rejected the planned sale and instead has favored putting the assets back up on the auction block in February. This opens the door for Wanxiang Group, the Chinese auto parts supplier who owns A123 Systems, to bid on Fisker's assets as well. "I think that, for …
Last reply by Drew Dowdell, -
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Just when you thought Fisker was out of the hot water, they're back in it. Bloomberg reports that founder Henrik Fisker and the board of directors have been hit with a lawsuit over losses incurred by the company's financial problems. Atlas Capital Management LP, an investor in Fisker, filed a federal suit in Wilmington, Delaware, on December 27 claiming the automaker withheld information regarding its financial health. The suit also alleges that Fisker kept quiet about a recall involving 239 Karmas until the day after it closed a round of financing. Had Atlas known the truth, it “would not have purchased or otherwise acquired its Fisker securities, or, if it had purchas…
Last reply by G. David Felt, -
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William Maley Staff Writer - CheersandGears.com November 25, 2013 The Department of Energy (DOE) announced on Friday that it had found a buyer for dormant automaker, Fisker. The buyer is Hybrid Tech Holdings, LLC, a company founded by Richard Li, one of the people who was interested in buying Fisker. So how much did Hybrid Tech pay for the assets of Fisker? Reports say around $25 million, which means the DOE lost around $139 million in its investment into Fisker. To keep the transfer process smooth and make sure Fisker's creditors and suppliers get paid, the company has filled for Chapter 11 Bankruptcy in a California court. "After having evaluated and pursued all o…
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William Maley Staff Writer - CheersandGears.com October 18, 2013 Last month, we told you about the U.S. Department of Energy putting up for auction Fisker's $124 million loan in a effort to recoup as much money as they can. There were a number of suitors who were ready to take on the loan including; Hong Kong-based investor Richard Li Chinese automotive supplier Wanxiang Group and Bob Lutz's VL Automotive German investment group Fritz Nols AG Today, we might have an answer as to who bought the loan. Reuters is reporting the Richard Li's investment group won the auction and are now in the process with the Department of Energy to finalize details of the sale.…
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William Maley Staff Writer - CheersandGears.com September 19, 2013 The U.S. Department of Energy has announced this week they will be putting up Fisker Automotive's $164 Million loan up for auction next month. This is in a effort to try and recoup as much money as they can. "After exhausting any realistic possibility for a sale that might have protected our entire investment, the Department announced today that we are auctioning the remainder of Fisker's loan obligation, offering the best possible recovery for the taxpayer," said Peter Davidson, director of the Loan Program Office at the Department of Energy in a blog post. "Consistent with the intent and statutory p…
Last reply by G. David Felt, -
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William Maley Staff Writer - CheersandGears.com August 23, 2013 A German investment group has put its hat in the ring to buy Fisker Automotive. Fritz Nols AG has put in a bid for $25 million dollars for the company and its assets, a far cry from $173 million debt Fisker owns the U.S. "There was too much focus on design and production. It was forgotten that you have to sell the car as well," said Ingo Voigt, the person heading the buyout for Fritz Nols AG to Autobild. If the group was to get Fisker, Voigt says they would move production from Finland to the U.S. and sell 2,500 Karma sedans per year. The group will also focus on adding more models to Karma lineup with t…
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By William Maley Staff Writer - CheersandGears.com May 26, 2013 Two groups are trying to get their hands on what remains of Fisker Automotive. Group one is VL Automotive (the fine folks who are planning to make the Destino) and China's Wanxiang Group have put in a joint bid of around $20 million, a far cry from Fisker Automotive's almost $2 billion estimate from a investor document filing obtained by Reuters. As we reported earlier this month, Lutz said that VL Automotive could with Fisker's suppliers to keep the Karma in production, but that could become a logistics nightmare. "I want Fisker to live and succeed, if only to ensure a continuing supply of Karma bodie…
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By William Maley Staff Writer - CheersandGears.com May 20, 2013 There is always the risk of buying into a new, fledgling automaker since they may be here one moment and gone the next. Such is the case in point with Fisker Automotive and owners are selling their vehicles at prices that will make you do a double take. A recent search on eBay saw the average price of twenty-five Fisker Karmas up for bid hovering around the $60 to $70k mark. There were a couple that were around $50,000 mark. "Anybody who wanted this car before because it was knock-down gorgeous, but couldn't afford it, well now they can afford it," said Bill Michlin, a dealer with the Fields Auto Group i…
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By William Maley Staff Writer - CheersandGears.com April 10, 2013 It seems the end is close for Fisker. Reuters is reporting that Fisker could be filling for Chapter 11 bankruptcy this week due to pressure of the U.S. Department of Energy who want the company to pay back nearly $200 million in government loans. A source tells Reuters that Fisker's lawyers have drawn up the documents needed to file for bankruptcy, and are ready to go within the next few days. Fisker and the Department of Energy's relationship has been strained over the past few months due to missing milestones for the loans, not building any vehicles since last summer, and number of other problems. Th…
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By William Maley Staff Writer - CheersandGears.com April 9, 2013 From the "it can't get any worse, can it?" file, Fisker has been smacked with a lawsuit by their former employees alleging the company violated the law when they were laid off. Last Friday, Fisker announced they would be laying off 75% of their employees (about 160 employees) as "a necessary strategic step to... maximize the value of Fisker's core assets," which is complicated way of saying 'we're trying to conserve as much cash as possible'. However, employees have sued Fisker in Federal court, stating the company violated the US Worker Adjustment Retraining Notification (WARN) Act which says a company…
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By William Maley Staff Writer - CheersandGears.com April 1, 2013 Just when you think the news about Fisker couldn't get any worse, it has. Last Thursday, Reuters learned from a source that Fisker has hired the law firm of Kirkland & Ellis to advise on a possible bankruptcy filing. The source says the company is “considering bankruptcy while it pursued alternatives.” Fisker has also furloughed its U.S. work force this week to preserve cash. Last month has been tough on Fisker as the company saw its founder and chairman, Henrik Fisker resign due to "several major disagreements" with top management. It also saw its efforts to find a investor erode away as Geely and …
Last reply by GMTruckGuy74, -
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By William Maley Staff Writer - CheersandGears.com April 5, 2013 The string of bad news continues for Fisker Automotive. The struggling automaker announced today in a statement that the company let go 75% of its staff (about 160 people) during a meeting this morning. "Today, Fisker met with a group of employees in our Southern California office to inform them that this is their last day with the company," the company said in a statement today. Source tells Reuters the reason for the lay offs is a last ditch effort to help conserve cash and stay off a potential bankruptcy filing. Fisker will be retaining about 53 employees, mostly senior managers and executives to he…
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By William Maley Staff Writer - CheersandGears.com March 13, 2013 Henrik Fisker, founder and executive chairman of Fisker Automotive has resigned today. In a statement sent today, Fisker Automotive said “the main reasons for his resignation are several major disagreements that Henrik Fisker has with the Fisker Automotive executive management on the business strategy.” “Given the confidential nature of this matter, at this point in our process we can only confirm that the company has received detailed proposals from multiple parties in different continents which are now being evaluated by the company and its advisors. The company is pleased with the level of interest…
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By William Maley Staff Writer - CheersandGears.com March 19, 2013 Last month, we reported that Fisker had two possible bidders for a possible stake in the company. The two bidders in question were Zhejiang Geely Holding Group and Dongfeng Motor Group. At the time, Fisker was leaning towards Geely due to the company's experience of acquiring a foreign automaker (Volvo) and management structure. But Geely has dropped their bid for Fisker. Two sources tell Reuters that the reason Geely dropped their bid was due to Fisker's obligations to the U.S. Government which included obligation to restore capacity and jobs at Fisker's Delaware plant according to a schedule imposed b…
Last reply by G. David Felt, -
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By William Maley Staff Writer - CheersandGears.com February 18, 2013 The past couple of months for Fisker has been very interesting. In December, Fisker founder and Chairman Henrik Fisker said that the company was looking for "potential strategic partners". Then in January, Fisker headed off to China to talk with automakers. Now Fisker is looking at bids for a stake in the company by two Chinese automakers. Reuters is reporting that Fisker is weighing two bids from Zhejiang Geely Holding Group and Dongfeng Motor Group. The report says that companies from Europe and South Korea were also interested, but the two Chinese automakers sent in written bids. Two people famil…
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By William Maley Staff Writer - CheersandGears.com January 30, 2013 Bloomberg is reporting that Fisker has hired hired Huron Consulting Group Inc. to help with day to day operations and to conserve cash while it goes searching for a partner. As we reported last Monday, Fisker is currently looking for a partner in China. Two people familiar with the situation say Fisker is currently seeking first-round bids by early February. If Fisker doesn't get the funds or has a partner by midyear, the company risks burning through cash a person tells Bloomberg. “We’re making prudent business decisions to help secure an alliance or partnership,” said Fisker spokesman Roger Ormish…
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16 of them caught fire and exploded after being caught in the storm surge at the port: http://updates.jalopnik.com/post/34669789863/more-than-a-dozen-fisker-karma-hybrids-caught-fire-and
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Fisker Karma Arrives Onto Dealer Lots In July* William Maley - Editor/Reporter - CheersandGears.com June 2, 2011 Back in February, we reported that Fisker would begin production of the Karma Plug-In Hybrid in March and sales would begin in April. Well, no cars have arrived to Fisker dealers in that time. Now, Fisker has set a new date for when vehicles will be arriving. Roger Ormisher, director of global communications for Fisker Automotive said, "[the]first dealer [demonstration vehicles] and customer cars will arrive on these shores in July." Now, will this date hold for Fisker? Your guess is good as ours. Source: Green Car Reports
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Fisker Karma Gets The EPA Certification William Maley - Editor/Reporter - CheersandGears.com October 19, 2011 2011 hasn't been an easy year for Fisker. The company has had to push back the delivery date of their Karma sedan from May to November due to a number of delays with production and certifications. Now, the company has gotten certification from the EPA that shows the Karma complies with emissions standards and fuel economy ratings. That mean Fisker can begin delivering vehicles to their dealers. The EPA gave the Fisker Karma an EPA rating of 52 MPGe (miles per gallon equivalent,)an all-electric range of 32 miles and 20 miles per gallon on gasolin…
Last reply by pow, -
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November Is The Date For Fisker Karma Deliveries (We Think) William Maley - Editor/Reporter - CheersandGears.com September 16, 2011 Even though Fisker has already delivered a few of their Karma Plug-In vehicles, it’s still not technically ready for the road. Sources inside Fisker tells Ward's Auto the problem lies in the Karma not being certified by the EPA. Without the certification, it cannot be registered or driven on public roads here in the U.S. Fisker says they're waiting on the EPA to do the certification and hopes to get demos for dealers out by the end of September. However, dealers are saying vehicles ordered by buyers aren't expected to arrive…
Last reply by Satty, -
Fisker Automotive News At The Frankfurt Motor Show Frankfurt, Germany – September 13, 2011: Taking center stage at Fisker Automotive's Frankfurt Show stand is a stunning new version of the Fisker Karma-the Fisker Surf-a new model that delivers on Fisker's promise of Pure Driving Passion and Uncompromised Responsible Luxury. But that's not the only news from the environmentally responsible American Car Company: FISKER SURF The new Fisker Surf is the world's first electric luxury/sports automobile for an active and eco-friendly lifestyle. The Fisker Surf builds on the success of the ground-breaking Karma Electric Vehicle with extended range (EVer™) by adding add…
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Coming To The Frankfurt Show: A Fisker Karma Shooting Brake William Maley - Editor/Reporter - CheersandGears.com September 6, 2011 Fisker is busy at work on more models for their lineup. At this month's Frankfurt Auto Show, the company plans on showing a shooting brake (aka, two-door station) version of the Karma. The reason is due to customers complaining about the lack of trunk space in the regular Karma due to the plug-in hybrid drivetrain. Also coming out from Fisker is a new vehicle codenamed "Project Nina" that's expected to come out sometime in 2013. The Nina will be the first vehicle to come with a BMW Powertrain. Fisker and BMW signed an a exclus…
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Fisker Announces Date For Karma Production.. We Think William Maley - Editor/Reporter - CheersandGears.com February 25, 2011 A date has been set for March 21st for production of the Fisker Karma. Yes, you're reading this correctly. March 21st is the day the Karma begins rolling off the production line in Finland, with delivery starting in April. Fisker has a checkered history of delivering on their promises; they missed their November 2009 launch. Then it was pushed to September 2010 which was missed and finally missed their February 2011 production date. With all the delays, Fisker had to rethink their production goals for 2011. The goals for 2011 is t…
Last reply by William Maley, -
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CAR AND DRIVER 2012 Fisker Karma - First Drive Review We finally get our hands on Fisker's gorgeous plug-in hybrid sedan. BY DON SHERMAN February 2011 Three years and a billion investment dollars after the Fisker Karma rolled forth as a stunning plug-in-hybrid concept, it’s finally ready to rock as a stunning production car. All in less time (and for far less money) than GM needed to produce the Chevy Volt. The Karma’s recipe calls for sexy design stirred with a heap of sustainability. We had faith in the styling part of the concoction: While growing up in Denmark, Henrik Fisker inherited from his father a deep appreciation for American cars of the Sixties. Upon c…
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Fisker unveils Boxwood plans Via Delaware Online Fisker Automotive could create as many as 2,500 jobs in the next five years as it renovates and reopens the Boxwood Road plant near Newport to build plug-in hybrid electric cars. The startup automaker announced its plans this morning at an event at the former General Motors factory, with officials including Vice President Joe Biden and Gov. Jack Markell in attendance. Irvine, Calif.-based Fisker plans to use some of the proceeds from a $528 million U.S. government loan at the Boxwood plant, idle since July when General Motors ended production there. Fisker signed a letter of intent with Motors Liquidation Co. to purch…
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