Fisker's first car, the Karma, is set to be released next year. Its Delaware plant is set to make its next luxury car, which will also be a plug-in hybrid.
(Credit: Fisker Automotive)Upstart carmaker Fisker Automotive on Tuesday said it will purchase a plant in Wilmington, Del., to make a plug-in hybrid sedan.
The facility, which used to be a General Motors factory, will begin manufacturing a plug-in hybrid in late 2012, which the company expects will cost almost $40,000 after federal tax credits. U.S. Vice President Joe Biden and Delaware Gov. Jack Markell are scheduled to speak at an announcement ceremony on Tuesday morning.
Production of Fisker's "family-oriented" car, called Project Nina, will result in 2,000 factory jobs. The company anticipates making 75,000 to 100,000 cars per year by 2014. "Wilmington is perfect for high-quality, low-volume production," CEO Henrik Fisker said in a statement.
The Wilmington assembly plant, closed in July this year, produced a handful of relatively low-volume cars from GM's shed brands, including the Pontiac Solstice and Saturn Sky.
Fisker's first car, called the Karma, is a high-end luxury car priced at about $88,000. The Karma, which is will be manufactured in Europe, will be available in the middle of next year.
Fisker Automotive received $528.7 million from a Department of Energy loan in September, which will fund the purchase of the factory from GM. The company expects to buy the plant for $18 million and spend another $175 million to retool the factory over the next three years.
The technology used by Fisker, called an extended-range electric vehicle or series hybrid, is similar to that used by General Motors' Chevy Volt. The Karma will go 50 miles on batteries, and then a gasoline engine will run a generator for longer rides, for a total range 300 miles.
The Fisker Karma at the Mazda Raceway Laguna Seca in August.
(Credit: Fisker Automotive)American start-up Fisker Automotive may be about to unveil the first truly affordable plug-in hybrid for the U.S. market.
Ray Lane, managing partner at Kleiner Perkins Caufield & Byers, told an audience at the Always On Going Green conference in Sausalito, Calif., on Tuesday that there could be a big announcement within the next week about a $39,000 plug-in hybrid. Though he would not say who, he mentioned that it was a car for the U.S. market and that it was not strictly electric, according to a report from Cleantech Group.
While Kleiner Perkins has investments in several transportation start-ups such as Think Global and EEStor, the likely company from its repertoire to make such an announcement would be Fisker Automotive.
Fisker has already unveiled the Karma, a four-door luxury plug-in car that can go from 0-62 mph in 6 seconds, and has a maximum speed of 125 mph. But Fisker has set the tentative price for the car at $87,900, making it not much cheaper than Tesla's Roadster sports car.
Fisker CEO Henrik Fisker also told CNET in an exclusive May 2008 interview that advances in battery and software technology would allow his company to offer a $40,000 plug-in car in about four or five years.
Perhaps that day has come sooner than the founder was willing to let on at the time.
But it may not be as soon as others have speculated. Fisker's European press office sent out an e-mail on Monday informing journalists the company has canceled a press conference originally scheduled for this week at the 2009 Frankfurt auto show.
EnerDel has signed an agreement to supply lithium-ion batteries for electric carmaker Fisker Automotive's planned Fisker Karma.
Indianapolis-based EnerDel announced the letter of intent on Friday, a few hours before state senator Evan Bayh is scheduled to dedicate a new production line for auto batteries. The supply deal is contingent on reliability and performance testing. A Fisker Karma will be at the inauguration.
The Fisker Karma
(Credit: Fisker Automotive)The Fisker Karma is a four-door luxury car, priced at about $88,000, that runs on batteries and gets about 100 miles per gallon. It will have an internal combustion gas engine to charge the batteries for rides longer than 50 miles.
The electric-powered Karma will be available at dealers in June next year in the U.S. Fisker plans to open a European dealer network as well.
For EnerDel, the supply deal could mean as many as 15,000 battery packs, which is the number of Karmas that Fisker plans to build per year.
The company had a contract to supply Think, a maker of an all-electric town car, but Think's production plans have been changed because of financial problems.
Electric-car maker Fisker Automotive said on Tuesday it has reached an agreement to receive $85 million for additional development and manufacturing of its plug-in electric luxury sedan.
Investors are Eco-Drive (Capital) Partners, a New York-based consortium, and venture capital company Kleiner Perkins Caufield & Byers, which is an existing investor.
Fisker Automotive's first car will be the Fisker Karma, a plug-in electric sedan due by the end of this year that will cost $87,900 before tax credits. The company also plans to develop a lower-cost car in the future.
The Karma will be able to go about 50 miles on lithium ion batteries and have a 2-liter gasoline engine that will act as a generator for longer rides. The full range will be 300 miles.
Earlier this year, the Irvine, Calif.-based company said it has set up a network of 30 retailers to distribute the Karma in the U.S.
Electric car company Tesla Motors will not continue its trade secret suit against rival car maker Fisker Automotive, following an arbitrator's ruling in Fisker's favor.
Fisker Automotive said on Monday that an arbitrator found an interim award in favor of Fisker Automotive and the auto design company which had done work for Tesla last year.
Tesla's communications manager on Monday said that the company will not pursue the case because the arbitrator's ruling was binding.
The case dates back to April of this year, when Tesla Motors filed a suit against famed designer Henrik Fisker's design firm for allegedly taking confidential design information about Tesla's upcoming luxury sedan during a consulting engagement.
Fisker Automotive responded in May when it filed for arbitration. The contract between Fisker and Tesla had a clause that required that any disputes be handled through arbitration in Orange County, Calif., within 90 days, according to Fisker. Tesla filed its suit against Fisker in San Mateo Superior Court.
According to Fisker, the case's arbitrator said that "Tesla's assertion of violations of the Uniform Trade Secrets Act by Fisker were baseless and neither brought nor pursued in good faith."
Fisker Automotive said that it is still on target to release its plug-in hybrid high-end sports sedan by the end of 2009.
The Tesla representative said the result does not affect Tesla's operations. The company raised $40 million in convertible debt on Sunday in an effort to improve its low cash position and accelerate sales of its Roadster electric sports car.
Fisker Automotive on Tuesday said it raised $65 million to build the Fisker Karma, a planned $80,000 plug-in hybrid sports car.
The series C funding, first reported earlier in May, was led by Qatar Investment Authority (QIA) and joined by existing investors Palo Alto Investors and Kleiner Perkins Caufield & Byers. The company had previously raised $25 million, CEO Henrik Fisker said in May.
The plug-in hybrid Fisker Karma sports sedan is designed to have a 50-mile range on battery alone.
(Credit: Fisker Automotive)The company expects to start delivering the four-door Fisker Karma in the fourth quarter of next year, with planned production of 15,000 units a year.
Unveiled last year, the Karma is designed for daily driving of up to 50 miles from its custom-designed lithium ion battery. A four-cylinder gasoline engine will be used to charge the battery for longer rides.
The Karma will be able to go from zero to 60 miles per hour in 5.8 seconds. Top speed will be 125 miles per hour.
Fisker has also said the company plans to make a $40,000 sedan in about four or five years.
Henrik Fisker and a designer were sued by rival electric sports car maker Tesla Motors for breach of contract and allegedly stealing trade secrets. The case is expected to go to arbitration.
Tesla Motors' case against Fisker Automotive over allegedly stolen electric car designs is scheduled to go to arbitration.
The San Mateo Superior Court on Wednesday granted Fisker Automotive's request for arbitration, according to the court's records. A case management conference is scheduled for later in August.
The Tesla Roadster
(Credit: Corinne Schulze/CNET Networks)Tesla filed a complaint against Henrik Fisker's design company, Fisker Coachbuild, in April, accusing the company of copying its luxury sedan designs.
The suit said that Fisker and Bernhard Koehler, Fisker Coachbuild's chief operating officer, accepted the contract "to gain access to confidential design information and trade secrets, then announced a competing vehicle."
Fisker Automotive responded in May, when it filed for arbitration.
The contract between Fisker and Tesla had a clause that required that any disputes be handled through arbitration in Orange County, Calif., within 90 days, according to Fisker. Tesla filed its suit against Fisker in San Mateo Superior Court.
On Thursday, Henrik Fisker released a statement, saying his company is "extremely pleased" with the court's decision.
"Fisker Automotive is extremely pleased with this ruling because it allows it to get a prompt and economical resolution of Tesla's claims, all of which are believed to be without merit and brought for improper purposes," he said in a statement.
Tesla Motors did not immediately respond to a request for comment.
Fisker Automotive is seeking a speedy end to a lawsuit filed against it by electric-sports car rival Tesla Motors.
In a statement released on Wednesday, Fisker said it has filed for arbitration, a motion that will be decided by the San Mateo Superior Court by June 11, 2008.
The contract between Fisker and Tesla had a clause that required that any disputes be handled through arbitration in the Orange County, Calif., within 90 days, according to Fisker. Tesla filed its suit against Fisker in San Mateo Superior Court.
Fisker Automotive CEO Henrik Fisker dismissed Tesla's suit as "ridiculous."
(Credit: Martin LaMonica/CNET News.com)By filing a motion to compel arbitration, Fisker is trying to avoid costly litigation and resolve the matter quickly, according to its statement:
Because Tesla has sued, Fisker must enforce the terms of the contract and have this matter submitted to arbitration so as to obtain a decision as quickly as possible. Fisker must vigorously defend the meritless litigation brought by Tesla, despite its interference with Fisker's objective to bring environmentally progressive cars to market.
It is ironic that Tesla is using precious financial resources pursuing costly litigation to try and prevent an entirely different clean technology from being made available to the public. Tesla and its investor would be better served if Tesla devoted its money and time to resolving its own technical and management issues, rather than attacking important innovations of other environmentally conscious companies.
Tesla filed suit against against Fisker Automotive last month, alleging that CEO Henrik Fisker's design company, Fisker Coachbuild, stole Tesla technology when it did design work on a planned Tesla all-electric sedan.
In the suit, Tesla alleges that Fisker and Bernhard Koehler, Fisker Coachbuild's chief operating officer, accepted the contract "to gain access to confidential design information and trade secrets, then announced a competing vehicle."
In Wednesday's statement, Fisker said it took "great offense" at allegations that it did substandard work. The language echoes comments that CEO Fisker made on Tuesday, when he called the Tesla suit "ridiculous" and "just sour grapes."
Fisker did design work for Tesla's upcoming Whitestar, a sedan that will run on an all-electric motor. In an interview with CNET News.com, Fisker said Tesla made significant design changes during the process and that the company has encountered many technical problems.
In its statement on Wednesday, Fisker argued that the Whitestar will not compete with the Karma, the $80,000 sports car that Fisker plans to release at the end of next year. It will run on a battery for the first 50 miles and have a gasoline engine that will feed a generator that charges a Fisker-designed lithium ion battery.
From the statement:
"Fisker's performance of body and interior design under the contract with Tesla had nothing to do with Tesla's electric drive technology. The Karma, which is being produced by Fisker Automotive, is based upon a clean hybrid drive technology which is proprietary to Fisker's partner, Quantum Technologies.
Tesla's contract with Fisker acknowledges that Fisker is entitled to perform identical services for others. Tesla actually retained Fisker to perform additional design services regarding the WhiteStar, after Fisker's association with Quantum Technologies was known throughout the industry via press release.
Not once did Tesla ever complain to Fisker regarding Fisker's performance under the contract, until after the Karma had been shown to the world.
Separately, CEO Fisker on Tuesday said the company intends to make a second battery car that will be priced at about $40,000. He said the expected release would be four or five years.
NEW YORK--Fisker Automotive is raising a large round of funding to build its $80,000 electric sedan, but it intends to make a version at half the price in a few years.
The company expects to close a series C round of $65 million in June, company CEO Henrik Fisker told CNET News.com on Tuesday.
Fisker, who spoke at a clean tech investor conference here, declined to name investors. But he said the company is in advanced talks with investors in Europe and Dubai and the round is "oversubscribed." To date, Fisker Automotive has raised $25 million.
The money will be used for "tooling" of the Karma, a luxury sports car that runs on a lithium-ion battery and a gasoline engine. It's designed to run 50 miles on a battery, which covers daily driving for most people.
That car will be available at the end of next year. The company drove a prototype of it last week, which ran on its custom-designed battery.
Fisker anticipates that advances in battery technology will allow the company to offer a cheaper version at about $40,000 in about four or five years.
Fisker cars are positioned to be in the same market as BMWs, Fisker said. He said that the Karma will be the equivalent of a 7 Series while the follow-on will be about the same as a 3 Series.
The key to the anticipated lower price is cheaper batteries, he said. A number of auto start-ups are devising all-electric cars or those that drive at least partially on batteries. But battery technology still limits the range people can drive. Recharge time and available power are also issues.
Fisker chose to create a combined gasoline-engine/battery-powered car to avoid any limitations on a car's range. The gas engine will be a four-cylinder, which runs at a constant speed, that will power a generator that charges the battery.
The zip in the car comes from the torque delivered by the battery. The Karma will be able to go from zero to 60 miles per hour in 5.8 seconds. Top speed will be 125 miles per hour.
Fisker is somewhat unusual among electric car makers in that it is designing its own battery.
Rather than have dozens of individual batteries, the Fisker car will have one large battery. That makes is easier to manage and control thermal problems that can arise with lithium-ion batteries, Fisker said.
Software, too, is key to its design, he said.
"The software is what controls the depletion and charging of the battery and the thermal management. The other software we're doing controls the engine generator that drives the system," Fisker explained.
The battery will be placed at the bottom and in the middle of the car and encased in lighter-weight aluminum. If better battery technologies emerge, the company can use it in its cars, he said.
Separately, Fisker said that the company intends to file for arbitration in reaction to a suit filed by Tesla Motors against Fisker's design firm, alleging theft of trade secrets.
NEW YORK--Fisker Automotive intends to file for arbitration on Tuesday in a legal counterattack to a suit filed against it by Tesla Motors over allegedly stolen trade secrets.
Henrik Fisker told CNET News.com that the filing will seek to have the Tesla suit derailed because it was filed in San Mateo, Calif., which would be a breach of contract.
Fisker Automotive will seek to move the case to Orange County, Calif., and detail the flaws in Tesla's legal case. He spoke here at the CleanTech Conference put on by Merriman, Curhan, and Ford.
Fisker Automotive CEO Henrik Fisker dismissed Tesla's suit as "ridiculous."
(Credit: Martin LaMonica/CNET News.com)Last month, Tesla sued Fisker Automotive, alleging that Henrik Fisker's design company, Fisker Coachbuild, stole Tesla technology when it did design work on a planned Tesla all-electric sedan.
In the suit, Tesla alleges that Fisker and Bernhard Koehler, Fisker Coachbuild's chief operating officer, accepted the contract "to gain access to confidential design information and trade secrets, then announced a competing vehicle."
On Tuesday, Fisker dismissed the suit as "ridiculous" and said it was a public-relations ploy aimed at obscuring the production delays Tesla is having due to design and technical issues.
In its filing on Tuesday, Fisker Automotive will detail some of the problems that Tesla has gone through in trying to get its electric luxury sports car and a planned sedan to market.
"The suit is ridiculous. First of all, why would I design a car that's purposely bad? It'd be bad for my reputation," Fisker said.
During his work with Tesla, Fisker said Tesla changed the design and packaging, which caused complications. Some changes came after Elon Musk took over from ousted CEO Martin Eberhard, who had previously been the contact with Fisker Coachbuild, Fisker explained. The changes "morphed" the entire concept of the car, he said.
After Tesla employees saw Fisker Automotive show off its own plug-in hybrid car at the North American International Auto Show in January, it started the process of seeking legal action, Fisker said.
"It's just sour grapes. That's all I can make out of it," Fisker said.
A representative from Tesla was not immediately available.
Separately, Fisker said his company is on track to deliver its $80,000 plug-in hybrid luxury sedan at the end of next year. It will run about 50 miles on a battery and have a gasoline engine that will charge the battery for longer trips.
Within five years, he anticipates that the company will sell a version that will cost about $40,000. It will still be a luxury sports sedan. But the lower price will be enabled by advances in battery technology, he said.
