2023 Fisker Ocean Extreme Sport Utility 4d on 2040-cars

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Henrik Fisker seeking Indian joint venture

Henrik Fisker may have backed out of the luxury hybrid automaker that bore his name, but don't dismiss him as down for the count just yet. In his latest initiative, the Dutch automotive designer is looking into starting up a joint venture in India. According to the Economic Times, Fisker was recently on the sub-continent visiting factories and holding meetings with Indian automakers that could see some sort of joint venture announced in the next three to four months, with Henrik himself tipped to join the board of his partnering automaker in an advisory capacity. India is home to such automakers as Tata, Maruti Suzuki and Mahindra. It's now been a year since the designer parted company with Fisker Automotive, which was bought by Chinese parts supplier Wangxiang for $150 million. Since then, Fisker's penned designs on an ad-hoc basis, including a high-end Mustang for Galpin and a custom motorcycle for Viking, through his new consultancy HF Design & Technology. Before starting Fisker Automotive, Henrik Fisker designed such notable machinery as the Aston Martin DB9, BMW Z8 and the ill-fated but beautiful Artega GT. He then got into the coachbuilding business, rebodying Mercedes SLs and BMW M6s for discerning and wealthy customers. News Source: Economic TimesImage Credit: Nam Y. Huh/AP Design/Style Green Fisker Henrik Fisker

Fisker is laying off 15% of staff and says it needs more cash ahead of a 'difficult year'

Electric vehicle startup Fisker is planning to lay off 15% of its workforce and says it likely does not have enough cash on hand to survive the next 12 months. The company says it is trying to find a way to raise that money as it works through a pivot from direct sales to a dealership model. "[W]e have put a plan in place to streamline the company as we prepare for another difficult year," founder and CEO Henrik Fisker said in a statement. Fisker reported more than 1,300 employees as of the end of September 2023, meaning the cut could affect close to 200 people. The company's share price plunged 35% in after-hours trading. Fisker said Thursday that it finished 2023 with $396 million in cash, though $70 million of that is restricted. The company says it is talking with one of its lenders about making "an additional investment" in the company. It also claims it is "in negotiations with a large automaker for a potential transaction which could include an investment in Fisker, joint development of one or more electric vehicle platforms, and North America manufacturing." A partnership like that will be crucial, as Fisker executives said on a call Thursday that it won't invest any more money in its future products unless it works with another automaker. That means the fates of a pickup truck, compact EV and other models that Fisker has teased are now in question. The company's financial struggles come as it is trying to move to a wholesale model built around partnerships with dealers, a shift that Fisker says has "negatively impacted" its sales so far. It's currently sitting on inventory of thousands of vehicles that are collectively worth more than $500 million. Fisker says it has received interest from around 250 dealerships but has only signed up 13 to date. Fisker has also been dealing with a number of problems with its Ocean SUV, its only model so far, as TechCrunch reported earlier this month. The company has said it resolved some issues with a software update in December and planned to fix many more in a larger 2.0 update earlier this month, but that only started making its way to customer vehicles this week. It is currently being investigated by the National Highway Traffic Safety Administration for reports of sudden brake failure, as well as for a handful of vehicle rollaway incidents. A number of big automakers are pulling back on their aggressive EV targets, and newer players are having trouble as well.

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: