2023 Fisker Ocean on 2040-cars

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BMW's EV tech is being used to resurrect the Karma

Saying that luxury electric-vehicle manufacturer Fisker was beleaguered before its demise a few years back would be a gross understatement. But despite the cars self-immolating and Tesla CEO Elon Musk criticizing everything but the Karma's design, a Chinese auto parts manufacturer is resurrecting the brand under a different name: "Revero." That's according to a report from Wall Street Journal. Wanxiang Group is moving production to EV-hotbed California from Finland and will unveil its new ride either in July or August, but pricing hasn't been announced yet. The previous Karma sold for $100,000. Perhaps most interesting, though, is how it's going to address the reliability issues that plagued the company's predecessor. WSJ says that the automaker is licensing BMW's electric vehicle control and charging systems – a deal finalized last year. "There are huge, serious, major upgrades throughout the electronics systems, wiring, charging, battery," Karma's chief marketing officer Jim Taylor says. In terms of looks, though, it doesn't sound like you should expect anything to change in that department because the overhauls aren't going to be visible, according to Taylor. Wanxiang picked up Fisker's remains for $149 million a few years back. This deal is important, especially for BMW: If the German automaker's licensed tech can help Fisker outrun its smoky, checkered past, that's a high-profile win for everyone involved. Related Video: This article by Timothy J. Seppala originally ran on Engadget, the definitive guide to this connected life. News Source: Wall Street Journal Green BMW Fisker Electric Future Vehicles Special and Limited Editions Performance Sedan transportation gear karma revero

Fisker plans lineup of four electric vehicles by 2025

Fisker recently declared it wants to secure the rights to use Volkswagen's MEB platform to underpin an electric crossover named Ocean. Although the deal hasn't been finalized yet, it released a preview image that sheds light on some of the other cars it plans to release. Company founder Henrik Fisker envisions a four-car range by 2025. Introduced as a concept at CES 2020, the Ocean takes the form of a battery-powered soft-roader that's about the same size as the Ford Mustang Mach-E. Although we don't know which platform it will be built on yet, it's expected to enter production in early 2021 and land with a base price in the vicinity of $38,000 before local and federal incentives enter the equation. Fisker announced it will also launch a flexible lease program. Fisker described its second vehicle as "a segment-busting super-sports sedan based on the EMotion concept," and its preview image shows the design study it introduced during CES 2018. There's no word yet on how it will evolve as it makes the transition from a show car to a production car, but Fisker explained it delayed the sedan's introduction until 2022 at the very earliest, in part because the solid-state battery technology it hopes to make available isn't ready for production yet. It also anticipates the Ocean will sell in greater numbers than the EMotion. The California-based company's range will also include a "sports crossover," which looks like a fastback on stilts in the vein of the BMW X4. Shown for the first time, it seemingly receives a much sportier design than the Ocean. Finally, it reaffirmed its plans to enter the burgeoning electric pickup segment, but the truck it plans to catapult into this increasingly crowded ring is hidden under a sheet. Fisker added all of the aforementioned models will be built using "platforms, battery packs, and components" sourced from the world's leading manufacturers and suppliers. They'll all be electric — gasoline-, diesel- and hybrid-powered vehicles aren't part of Fisker's plan. Fisker can talk the talk, there's absolutely no doubt about it, but now it needs to prove it can walk the walk. It's in the process of going public by merging with a blank-check company backed by Apollo Global Management. The deal will give it a $2.9 billion value, and provide it with $1 billion in gross proceeds it will use to make the Ocean a reality. Proceeds from that model will presumably be used to develop and launch production of its other cars.

Almost $1 billion in claims filed against bankrupt Fisker

You may have scoffed when the US Department of Energy sold the rights to its $168 million outstanding Fisker Automotive loan to Hybrid Tech Holdings last December for just $25 million, or about 15 cents on the dollar. It turns out that might be the going rate for anyone with claims against the bankrupt extended-range plug-in maker, though. That's because Fisker, which declared bankruptcy in November, has generated $985.4 million in claims from 618 not-so-happy parties, Delaware Online says, citing a bankruptcy filing from last week. Fisker stopped making its sporty but troubled Karma in mid-2012. Wanxiang America won an auction for Fisker's assets, including its Delaware factory, for $149.2 million. That leaves $836 million, or about 85 percent of the collective value of the claims against the company. Naturally, Hybrid Tech Holdings, which was beaten out by Wanxiang in the bidding for the assets, has jumped in line to see if it can make good on what was formerly that DOE loan. The state of Delaware, where Fisker had acquired an old General Motors factory, is seeking $20 million stemming from some incentives it provided up front. And Finland's Valmet Automotive wants $8.5 million for its work with the company. Former Fisker employees say the company is on the hook for another $6 million, and none other than General Motors itself is claiming it is owed the same amount. Then there is the lawsuit we first heard about in December that was filed against Fisker and some of its executives who were collecting hefty paychecks while no cars were being produced. Add it all up and you get almost a billion dollars. Good times.