2023 Fisker Ocean 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

Fisker-Foxconn EV partnership 'moving faster than expected'

U.S. electric automaker Fisker expects operating expenses to reach between $490 million and $530 million this year, a slight increase in its business outlook for the year that is driven by R&D spending on prototypes for its Ocean SUV, testing and validation of advanced technology, hiring and its "accelerating" partnership with Foxconn. The company, which reported its second-quarter earnings Thursday after market close, raised its business outlook for expectations for key non-GAAP operating expenses and capital expenditures for the full year up from its previous guidance of $450 million to $510 million. The earnings report pointed to R&D spending on prototype activities in 2021 driven by testing and validation on advanced driver assistance systems, powertrain and user interface. The company also noted an increase in spending on in-house costs, such as virtual validation software tools, hiring and virtual and physical testing to account for recently tightened Euro NCAP and IIHS safety regulations. Co-founder, CFO and COO Geeta Gupta Fisker added during an investor call that the company made a strategic decision to develop internal capabilities to test and validate, instead of relying solely on third parties. Co-founder and CEO Henrik Fisker said in an interview Thursday its partnership with Foxconn, which is "moving faster than expected," also is contributing to an increase in spending. "We were really aligned," Fisker said in an interview Thursday. "I mean it's a very unique business deal because we are both investing into this program; it's not like we just hired Foxconn to make a car." Fisker has two vehicle programs in the works. Its first electric vehicle, the Fisker Ocean SUV, will be assembled by automotive contract manufacturer Magna Steyr in Europe. The start of production is still on track to begin in November 2022, the company reiterated Thursday. Deliveries will begin in Europe and the United States in late 2022, with a plan to reach production capacity of more than 5,000 vehicles per month during 2023. Deliveries to customers in China are also expected to begin in 2023. Fisker Ocean at the track View 6 Photos In May, Fisker signed an agreement with Foxconn, the Taiwanese company that assembles iPhones, to co-develop and manufacture a new electric vehicle.

Longtime Tesla rival Henrik Fisker exits Twitter after Musk reaches deal to buy platform

Electric vehicle pioneer and Tesla competitor Henrik Fisker exited Twitter this week after his old rival Elon Musk reached an agreement to buy the social media platform for $44 billion. Fisker, who oversees electric vehicle maker Fisker Inc., wrote on Instagram Tuesday: “I believe 100% in free speech. But I do not want my free speech to be actively managed or controlled by a competitor. And I do not want a competitor to determine how my followers experience Fisker as we grow our company.” FiskerÂ’s Twitter handle no longer exists, though his companyÂ’s Twitter feed remained active as of Tuesday with a post of Henrik Fisker test driving a vehicle. Musk did not appear to directly react to FiskerÂ’s move on Tuesday, tweeting two general messages about free speech. This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Fisker and Musk have long been adversaries. Tesla sued Fisker in 2008 alleging his design company stole Tesla technology and used it to develop his own vehicle. An arbitrator ruled in favor of Fisker. Henrik Fisker did design work on the Tesla Model S sedan before the car launched, when the project was known by the codename WhiteStar. In the early 2010s, FiskerÂ’s first carmaker, Fisker Automotive, was a rival to Tesla and, for a while, they were on nearly equal footing as Fisker promised to bring his attractive sedan called the Karma to market followed up by a string of sleek cars and crossovers. The company, however, had issues with its battery packs and was hit with a string of bad luck, including losing a shipment of vehicles due to fires and floods related to Hurricane Sandy in 2012. It went bankrupt in 2013. The EV landscape has changed dramatically since then, with most major automakers investing heavily in the technology and newcomers like Lucid and Rivian joining the fray. Tesla, meanwhile, took off and catapulted Musk to even greater international fame, along with his PayPal and SpaceX ventures. Henrik Fisker regrouped and founded Fisker Inc. in 2016. It went public in 2020 and is planning to launch the Ocean SUV this year. Before founding EV startups, Fisker was known as a noted sports-car designer who counts the 2005 Aston Martin V8 Vantage and 1999 BMW Z8 among his highlights. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Green Fisker Tesla Electric Elon Musk Twitter Henrik Fisker