2012 Fisker Karma on 2040-cars

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Wanxiang wants to restart Fisker Karma production as quickly as possible

It appears that Wanxiang America's $149.2-million acquisition bid was about more than just owning the assets of Fisker Automotive. The Chinese auto parts maker is apparently serious about getting the Karma plug-in hybrid luxury vehicle back on the production line. "We will want to get the Karma back online as quickly as possible." "We will want to get the Karma back online as quickly as possible," Pin Ni, president of Wanxiang America, told The Boston Globe. More details will likely be released by Wanxiang now that US Bankruptcy Judge Kevin Gross has officially approved the purchase. Gross was satisfied that the purchase price includes a 20-percent stake in Fisker for creditors valued at $15 million – something that was not addressed by the original bids from Wanxiang and Hong Kong-based Hybrid Tech Holdings. Wanxiang also owns the maker of the Karma's lithium battery pack, A123 Systems. Creditors were delighted to see Wanxiang's bid, according to attorney William Baldiga, whose law firm represented creditors. "The value is six times what [Fisker] said it was worth when it filed for bankruptcy," Baldiga said, describing the negotiations as "two and a half days of yelling, screaming, bidding." In documents that Wanxiang filed with the federal court in January, Wanxiang mentioned a three-phase plan: building a hatchback version of the Fisker Atlantic (pictured above); restarting production of the Karma at Valmet in Finland, the plant where all the Karmas have so far been built; and then moving production to VL Automotive's manufacturing facility in Michigan. That means Bob Lutz, ex-General Motors vice chairman, could come back into the picture. In the first part of 2013, Lutz and Wanxiang tried to purchase Fisker. Lutz has as ownership stake in VL Automotive and wants to put small-block Corvette V8 engines into Karma bodies, calling the resulting vehicle the Destino. Wanxiang has said VL is the "soul of Fisker," so now that the company has the body, the revival can't be far behind. Featured Gallery Fisker Atlantic: New York 2012 News Source: The Boston Globe Green Plants/Manufacturing Fisker Electric PHEV a123 systems wanxiang karma

Karma Automotive to offer Sports and Performance Packages on 2020 Revero GT

Although Karma Automotive is busy working on numerous electric vehicle projects, the company announced this week a new batch of options for its Revero GT plug-in hybrid. On 2020 models, customers will have the choice to upgrade the GT's capabilities and aesthetic with a Sports Package or a Performance Package. The Revero GT, which was originally born as the Fisker Karma back in the day, is a rear-wheel-drive luxury performance sedan with a plug-in hybrid powertrain. It features a 28-kWh nickel-manganese-cobalt lithium-ion battery pack, two electric motors, and a BMW i8-sourced three-cylinder that acts as a generator. Karma says it has 536 horsepower and 550 lb-ft of torque. The Revero GT can run in pure electric mode for 80 miles and has a total range of 360 miles. The Sports and Performance Packages offer the same performance upgrades but with different looks. The Performance package stays undercover with virtually no exterior changes, but the Sports Package adds a little extra style. A Revero GT with the Sports Package will have Borrego Black paint, blacked-out chrome, carbon fiber exterior bits, GTS fender badges, and a monochrome Karma badge, which was previously seen on the SC2 concept car. It will also have red brake calipers, cross drilled rotors, and 22-inch Dune Twist Midnight Chrome wheels. Inside, the GT Sports Package will have carbon fiber trim, a blacked-out steering wheel Karma badge, and a GTS badge on the center console. Regarding the performance upgrades brought by both the Sports and Performance packages, Karma doesn't say much. The Packages bring electronic torque vectoring, and the 0-60-mph time is now 3.9 seconds. Without the package, the Revero GT is capable of 0-60 mph in 4.5 seconds in Sport Mode and 3.9 seconds in Launch Mode. The Revero GT is available now and starts at $146,600, including destination. Related Video:

Nissan, Fisker in advanced talks on investment, partnership

Nissan is in advanced talks to invest in electric vehicle maker Fisker in a deal that could provide the Japanese automaker with access to an electric pickup truck while giving the struggling startup a financial lifeline, according to two people familiar with the negotiations. The deal could close this month, said the sources, who asked not to be identified because the talks are ongoing and have not been finalized. Terms being discussed include Nissan investing more than $400 million in Fisker's truck platform and building Fisker's planned Alaska pickup starting in 2026 at one of its U.S. assembly plants, one of the sources said. Nissan would build its own electric pickup on the same platform, the source said. Nissan has U.S. assembly plants in Mississippi and Tennessee. Fisker said on Thursday, when it announced it might not be able to continue as a going concern and would cut 15% of its workforce, that it was in talks with a large automaker for a potential investment and joint development partnership. It did not name the automaker. A Fisker spokesman said the company does not comment on speculation, while Nissan officials were not immediately available to comment. Fisker shares had been down about 45% before the Reuters report but pared those losses and were trading down about 25% with a market capitalization of more than $295 million. The term sheet is ready and the deal is going through due diligence, one of the sources said. Nissan was an EV pioneer with its fully battery powered Leaf hatchback in 2010 but has since struggled in the face of nimbler new entrants. A deal with Fisker would help it move into the growing U.S. electric pickup market. Nissan's talks with Fisker comes in the wake of the former's “rebalanced” relationship with its long-time alliance partner Renault. Last year, Nissan and Renault finalised terms of a restructured alliance after months of negotiations. They aim to have cross-shareholdings of 15% as part of the deal. The more limited alliance removes certain restrictions and has opened the door for Nissan to develop growth plans in areas such as EVs and software independent of Renault, said one of the sources, who is familiar with Nissan's thinking. The Yokohama-headquartered automaker is scouring “many, many opportunities,” the person said.