2023 Fisker Ocean One on 2040-cars

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Destino's VL Automotive merges with GreenTech Automotive

Here's a twist to the Fisker/Destino/MyCar stories we didn't see coming. WM Greentech (WMGTA), the company behind the struggling-but-not-dead-yet MyCar, has merged with VL Automotive, the company that plans to take bodies from the Fisker Karma and repurpose them with a V8 engine. That car will now be part of GTA's new WM Destino brand. That latter idea comes, in part, from former Chevy Volt booster Bob Lutz, who founded VL Automotive with Gilbert Villarreal, an automotive engineer and industrialist. Vilarreal will now become chief operating officer of WMGTA. In a statement, available below, Vilarreal said the merger will let WMGTA get busy making the Destino luxury and that, "I truly believe in the production of the GTA MyCar as a practical, electric transportation solution and an affordable fleet vehicle." The Destino, of course, is neither electric nor affordable. It is expected to cost around $180,000. WMGTA thus has two brands. The GTA division will make practical little EVs like the MyCar. The WM division, on the other hand, "manufactures and distributes energy-efficient super sports cars with internal combustion engine." Now tell us, did you see that coming? WM GREENTECH AUTOMOTIVE CORP. MERGES WITH LUXURY SPORTS CAR MANUFACTURER VL AUTOMOTIVE McLean, Virginia – May 5, 2014 - GreenTech Automotive Corp (GTA), a Virginia-based wholly owned subsidiary of WM GreenTech Automotive Corp. (WMGTA), today announced the recent merger of VL Automotive, an innovative luxury sports car manufacturing company based in Detroit, Michigan. VL Automotive will merge with GTA, a wholly owned subsidiary of WMGTA, which also has a wholly owned subsidiary that produces electric vehicles. After the merger, WMGTA now has its global engineering headquarters in Detroit, Michigan, manufacturing in Tunica, Mississippi, and U.S. corporate headquarters in McLean, Virginia. VL Automotive was founded by Robert A. Lutz, former Chairman of General Motors, and Gilbert Villarreal, automotive engineer and industrialist. Villarreal will join GTA's executive team as its Chief Operating Officer. Before joining GTA, Villarreal served in various engineering leadership positions at the United States Marine Corps, the Boeing Company and General Motors. "This merger will enable WMGTA to ramp up production of the Destino luxury sports sedan while strengthening its electric vehicle division. WMGTA has proven its practical business strategy and sensible approach to product development.

Fisker asset sale may not include name, logo

Always read the fine print before you sign the contract. That platitude is taking on new life as word comes that the winning bidder for bankrupt plug-in hybrid manufacturer Fisker may not actually earn the rights to use the company's name and logo. According to Delaware Online, that's because Fisker Automotive doesn't actually own either – they're the property of a different company called Fisker Coachbuild, LLC, and they have been used under license by the carmaker since 2008. This interesting bifurcation of assets brings to mind a previous bit of auto history - Rolls-Royce and Vickers. As it turns out, Fisker Coachbuild not only designs cars and components, it also has the merchandising rights to the Fisker name and logo for things like apparel and branded tchotchkes. How did this happen? According to the report, Coachbuild is a Fisker stockholder, and in 2008, a contract was signed by Bernhard Koehler (co-founder of Fisker and then-chief operating officer of Coachbuild) and designer and company namesake Henrik Fisker. Koehler and Fisker are actually in the logo, in a fashion, since it is supposed to represent the two men (the vertical lines) looking at the sunset (the red half circle) over the ocean (blue). Fisker Coachbuild attorneys have now put the bankruptcy court on official notice about their ownership of these key assets, and it's unclear if this news will affect the actions of leading bidders Wanxiang America, Inc. and Hybrid Tech Holdings. Coachbuild does sound somewhat conciliatory, saying "...it is likely that Coachbuild will consent to the assignment of the rights provided for under the Trademark Agreement as part of the proposed sale" while simultaneously "reserving its rights under applicable law to bar the assumption and assignment of Trademark Agreement without its prior written consent." This interesting bifurcation of assets brings to mind a previous bit of auto history. Back in 1998, British industrial conglomerate Vickers executed a now-legendary bit of wheeling-and-dealing that saw it sell the physical assets of luxury automaker Rolls-Royce to the Volkswagen Group. We say 'legendary' because it only sold the physical assets to VW – not the trademarks associated with them. Those trademarks included the Rolls-Royce name, famed double-R iconography and other assets – assets Vickers subsequently sold to BMW.

Edmunds bought a Fisker Ocean, warns others not to make the same mistake

We're going to guess you were not considering buying a 2023 Fisker Ocean SUV, even at the recent deeply discounted prices. However. On the microscopically remote chance you were considering acquiring an Ocean, Edmunds suggests you reconsider. In fact, the car-buying site doesn't merely suggest, it headlines a piece on the battery-electric SUV it bought in January, "Do not buy a new Fisker Ocean; Fisker's uncertain future makes buying an Ocean too much of a gamble." What makes the Edmunds piece more interesting than information you already know or mere piling on is that the site details much of its time with the Ocean, from the sorely under-baked delivery version that they paid $69,012 for to the slightly more livable but still misfit version missing promised features and recently hammered by at least 43% in depreciation. Similar to the issues Edmunds had with its Chevrolet Blazer EV, the Ocean's dash loved to throw up warning lights and errors before the OS 2.0 software update. The key fob had separation issues, occasionally needing to touch the door handle to unlock the SUV; Edmunds didn't mention the door latch issue the NHTSA is investigating. The Ocean's audio system enjoyed giving the silent treatment, and the e-motors wouldn't hold the vehicle when stopped on a hill.   The 2.0 software apparently fixed the fob, the dash lights, and infotainment responsiveness, while adding features like data on solar panel energy and trailer sway control. But the anticipated adaptive cruise control didn't materialize, and the new brake hold feature relies on a fiddly driver's-seat sensor that can put the Ocean in Park if the driver shifts their weight in the seat.     So, you can get an Ocean in dealer inventor today for fixed pricing as low as $24,999, no matter the options. Edmunds advises: Don't. Meanwhile, the latest report is that Fisker has withdrawn its financial guidance for the year while it tries to scare up a rescue plan. Even brand-specific forum Fiskerati jumped ship — it's now a general EV-focused site called CH4RGE. The All Things Fisker forum remains, though, and its current trade-in prices thread is brief, wild reading, from dealers unwilling to take the car, to initial offers in the $20,000s to $40,000s dropping to zero, to a few posters determined to stick it out with their delivered cars.  It's not like the Ocean's alone in foibles, though. The Issues.