2023 Fisker Ocean on 2040-cars

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Recharge Wrap-up: Karma expands in Michigan, Genovation to attempt another record

Karma Automotive (Fisker's successor) is expanding its engineering and program management team at its new Michigan office as it plans to launch the Revero. "Detroit is the home of some of the top technical resources and leading suppliers in the world," says Karma VP of Engineering Darren Post. Recent hires include former Ford GT engineer Kip Ewing, newly appointed President & Chief Operations Officer Dennis Dougherty, and other employees who "bring with them expertise in many technical areas and deep experience with many great companies such as Aston Martin, Rolls Royce, Tesla, Ford, FCA, and GM," according to Post. Read more in the press release from Karma. Businesses and developers in Phoenix, Arizona are planning their endeavors around the city's light rail project. Mixed use space The Newton, DeSoto Central Market, and Luhrs City Center are all located along the Valley Metro rail line. Not only does the light rail system help bring in customers, it is also a great way for employees to get to work. Valley Metro recently gave a tour of several businesses to highlight how light rail has been an important part of growth and development in the city. Read more at Mass Transit. Genovation is looking to set a new speed record for a street-legal electric car. The company recently set a record of 186.8 miles per hour in its GXE (Genovation eXtreme Electric car), which uses the frame and body of a Chevrolet Corvette. Now, Genovation is looking to push those limits further. We'll update you when we have more details, but for now, read more in the note below. Genovation Looks to Set Second World Speed Record With Proprietary All-Electric Vehicle WHAT: Genovation Cars is looking to make history once again by breaking the top speed world record for a street legal all electric car. Genovation currently holds the world record, achieved on February 23, 2016 by reaching a top speed of 186.8 mph with its GXE (Genovation eXtreme Electric car). Genovation's custom vehicles combine cutting edge green technology with the Corvette's lightweight frame and aerodynamic body that allow the vehicles to reach record-breaking speeds. The record breaking attempt is open to select media with advance security clearance. Join us to learn more about Genovation Cars and the behind-the-scenes work that goes into building the fastest all-electric vehicle on the planet.

New Fisker Karma will look a lot like the old one

Fisker Automotive appears to be wrangling up its proverbial ducks and properly aligning them again after halting production nearly two years ago. After filing for bankruptcy, the Chinese company Wanxiang, like an angel made of money, scooped up the maker of the Karma range-extended electric sports car for the sizeable sum of $149.2 million. Now, Wanxiang is looking to relaunch the Karma by early 2015, and the car that we see upon its revival will likely look quite familiar. An insider who wished to remain anonymous told Automotive News the new Karma "will have to be nearly identical to the 2012 model." Hoping to relaunch quickly, the company doesn't have the luxury of undergoing new safety testing and certification that would be required if it made major changes to the car. Also, the less engineering that needs to be done and the more old parts Fisker can take advantage of, the better. However, another person close to the project paints a slightly different picture of the new Fisker Karma. "The new Karma will be different in many key areas," said the unnamed source, without giving specifics. "It will have noticeable upgrades." Throwing a possible wrench in the works are Fisker's old suppliers, who are none too pleased about being left behind when the automaker stopped making cars. Many ended up clearing out the tools they were using to make parts for the Karma. With the time that has passed, one critical supplier suggests that the new Karma might be a bit stale, stating, "You're not buying something that's considered 'state of the art' necessarily." Still, with only about 1,800 Fisker Karmas having been sold before the disruption, the renewed model, similar as it may be to the old, will still seem fresh to all those eyes that haven't yet beheld the sleek EV. Even if, as some worry, it takes a bit longer to get production back on track, there's sure to be many happy to see the new car (and even some of the old ones) on the road.

Judge rules Fisker assets will be auctioned in February

The Fisker Automotive saga will continue until at least next month, now that a bankruptcy court judge has ruled that the automaker's assets will go up for auction in February instead of being acquired flat out by a Hong Kong investor. Wanxiang Group, which owns A123 Systems, is competing with Hybrid Tech Holdings LLC for Fisker. The judge says Hybrid Tech, which holds debt on Fisker, can't use any more than $25 million of that debt as part of its bid for the California-based automaker, according to Bloomberg News. Hybrid Tech is run by Richard Li, son of Li Ka-Shing, Hong Kong's wealthiest man, and the company bought Fisker's loan from the US Department of Energy. Fisker's line of credit from the DOE was originally for $529 million, but 'only' $192 million was drawn down before the government shut that spigot off. Wanxiang Group bid $25.8 million (plus assumed debt) for Fisker in late December, then increased its offer to $35.7 million earlier this month. Wanxiang Group acquired most of the assets of lithium-ion battery maker A123 Systems in 2012, and Fisker has maintained that Wanxiang hastened Fisker's demise by holding off battery deliveries. Fisker shut down production of its extended-range plug-in Karma in 2012 and filed for Chapter 11 bankruptcy last year.