2023 Fisker Ocean on 2040-cars

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Karma Automotive's next vehicle won't be the Atlantic, a coupe or a convertible, but it will be muscular

It's been a few months since we've gotten an update on what's happening at Karma Automotive. Since the car is here at the Detroit Auto Show, we stopped by and talked to Karma's TIm Oleston about where the company is and what's coming soon. Last fall, Karma was saying that its 550,000-square-foot factory in Moreno Valley, California would be up and running about now. But the timeline has turned into a more vague "some time in 2017," so we'll just have to wait for new about the start of actual production. Karma has run a few pre-production prototypes through the machines, and took 8-10 of them on a tour for prospective buyers in all the cities where the car will be sold (see the list here). On that tour, interested buyers were able to take the cars on test drives. "We wrung these cars out, in all kinds of weather," Oleston said, and none of them had a problem. We expect a spokesperson to give us the positive side of the story, but we'll take him at his word when he says that Karma engineers were expecting lots of problems, and were instead pleasantly surprised. The car itself remains pretty much the same as we're seen before, with 981 foot-pounds of torque and a top speed of about 128 miles an hour. Twenty-two-inch wheels are standard. The whole thing weighs about 5,400 pounds, so it's not going to win awards at the drag strip, but the more rigid chassis makes the Revero an excellent long-distance tourer, Oleston said, saying that he's spent thousands of miles behind the wheel. Oleston said that while the upcoming factory will be able to make more, if Karma sells about 2,000 Reveros, maybe 1,000 of them in the first year, that'd meet the company's expectations. As for the Karma model that's coming after the Revero, it will not be the Atlantic. Oleston said that the designers are working on "quite a few project," including ideas that take the "feline muscularity" of the Revero and crank it up a notch. Other than that, he would only hint at Karma's next model: "It's not a coupe, it's not a convertible. That's all I should say right now." More information will be coming in a few years, he said. The Revero's infotainment is getting a major overhaul. We knew this, and that it will have Android Auto and Apple CarPlay. You can see more in the video below. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings.

Karma's new China plant will revive Fisker Atlantic

Karma Automotive, the successor to high-end extended-range plug-in vehicle maker Fisker Automotive, is planning a factory in China that will make as many as 50,000 vehicles a year. The company is owned by China-based Wanxiang Group and has also reached agreements for 10 North American dealerships. Most impressively, there appear to be plans to revive the two-door "Atlantic" model that was planned by Fisker but never saw the light of day. Wanxiang Group will invest $375 million to build the factory in Hangzhou, Bloomberg News reports. No completion date has been set by Wanxiang, which Bloomberg said last year was China's biggest corporate investor in US real estate. Wanxiang acquired the former Fisker out of bankruptcy in 2014 for about $149 million, and renamed the company Karma. The four-door vehicle model that was previously known as the Karma will be relaunched as the Revero later this year. Karma Automotive also has a 550,000-square-foot factory in Moreno Valley, California, near Los Angeles. The wrinkle to the new factory, though, is that most of the cars produced there will be the two-door Atlantic. That model was unveiled in 2012, but Fisker never made good on its plans to start selling it to the public, and went bankrupt the following year. Karma said Monday that it reached agreements to relaunch its automobile line with 10 dealerships throughout North America, where it will sell the four-door Revero. The North American markets will be Atlanta, Chicago, Ft. Worth, Miami, Palm Beach, Los Angeles, Philadelphia, Detroit, Montreal, and Toronto. Karma is also planning to build an Orange County Brand Experience Center in Southern California, but it didn't reveal further details about that facility. Related Video: Featured Gallery Fisker Atlantic: New York 2012 News Source: Bloomberg News, Karma Automotive Green Plants/Manufacturing Fisker wanxiang atlantic fisker atlantic extended-range plug-in karma karma automotive

Auto startups chasing Tesla race past red flags to go public

Missed out on the Tesla rally but still want to surf the electric vehicle wave? A stream of EV-related startups backed by blank-check firms is lining up to go public so there are plenty of choices. But like Tesla in the early days, few have products ready to sell or any likelihood of generating significant revenue anytime soon. Instead, investors will be relying on rosy production, sales and revenue forecasts for new cars, trucks and batteries, all set to be jostling for a slice of markets that will be far more crowded than when Tesla's cars first hit the road. Take Fisker Inc, for example. It was launched in 2016, just three years after the bankruptcy of its predecessor and early Tesla rival Fisker Automobile. In July, Fisker Inc announced a $2.9 billion reverse merger deal with Spartan Energy Acquisition Corp, a Special Purpose Acquisition Company (SPAC), and is planning to go public later this year. It has no revenue and its Fisker Ocean electric sports-utility vehicle (SUV) is at least two years away from production in a project heavily dependent on nailing down deals with partners who will build the car and provide key components. That's not particularly unique for young companies in the sector looking to use SPACs to go public and bypass the scrutiny of a traditional IPO process, according to company presentations and interviews with executives and investors. That also didn't seem to be an issue earlier this year when U.S. electric truck maker Nikola Motors used a SPAC to go public. Shares in the company that hopes to generate revenue next year almost trebled after listing on the Nasdaq exchange. But they slumped when a short-seller questioned whether founder Trevor Milton had made false claims about Nikola's technology, forcing the 38-year-old entrepreneur to step down as executive chairman — and making some investors more cautious. Nikola and Milton have publicly rejected the accusations and have threatened to take legal action against the short-seller, Hindenberg Research. "Good storytelling is an important component of being a good founder and entrepreneur — but it better not be the only component," says Evangelos Simoudis, managing partner and founder of startup investor Synapse Partners. 'IT'S A FORECAST' Fisker Inc's founder Henrik Fisker is well known in the industry for designing sports cars such as Aston Martin's Vantage, and for his failed EV firm Fisker Automobile that went bust in 2013 after burning through more than $1 billion.