2023 Fisker Ocean One on 2040-cars

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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.

Fisker cuts production forecast as challenges mount for EV startups

Fisker Inc lowered its 2023 production target on Tuesday, the latest sign that U.S. electric-vehicle startups were struggling to ramp up output in the face of supply chain constraints, easing demand and a tight cash position. Shares of the company slumped 12% in premarket trading. This comes just days after the automaker announced it had delivered its first Ocean SUV in Denmark, followed by its first vehicle registration in Germany. The results follow weak earnings and a production outlook cut overnight from Lucid Group Inc, sending its stock tumbling 10%. U.S. EV startups' hopes of shaking up the industry collided with rising interest rates and sluggish demand, with many grappling with production challenges. Market leader Tesla has also cut prices to stoke demand. Fisker now expects to produce between 32,000 and 36,000 units in 2023, compared with its previous target of 42,400 cars. The company blamed the cut on supply chain issues and an updated timing for homologation, or the certification for roadworthiness. Its 32-cent per share adjusted loss for the first three months of the year was also larger than Wall Street estimates for a 30-cent loss, according to Refinitiv data. As of March 31, Fisker had about $652.5 million in cash and cash equivalents, compared with $1.04 billion a year earlier. The company expects to produce between 1,400 and 1,700 vehicles in the second quarter. Related video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Earnings/Financials Green Plants/Manufacturing Fisker SUV Electric

Karma's new China plant will revive Fisker Atlantic

Karma Automotive, the successor to high-end extended-range plug-in vehicle maker Fisker Automotive, is planning a factory in China that will make as many as 50,000 vehicles a year. The company is owned by China-based Wanxiang Group and has also reached agreements for 10 North American dealerships. Most impressively, there appear to be plans to revive the two-door "Atlantic" model that was planned by Fisker but never saw the light of day. Wanxiang Group will invest $375 million to build the factory in Hangzhou, Bloomberg News reports. No completion date has been set by Wanxiang, which Bloomberg said last year was China's biggest corporate investor in US real estate. Wanxiang acquired the former Fisker out of bankruptcy in 2014 for about $149 million, and renamed the company Karma. The four-door vehicle model that was previously known as the Karma will be relaunched as the Revero later this year. Karma Automotive also has a 550,000-square-foot factory in Moreno Valley, California, near Los Angeles. The wrinkle to the new factory, though, is that most of the cars produced there will be the two-door Atlantic. That model was unveiled in 2012, but Fisker never made good on its plans to start selling it to the public, and went bankrupt the following year. Karma said Monday that it reached agreements to relaunch its automobile line with 10 dealerships throughout North America, where it will sell the four-door Revero. The North American markets will be Atlanta, Chicago, Ft. Worth, Miami, Palm Beach, Los Angeles, Philadelphia, Detroit, Montreal, and Toronto. Karma is also planning to build an Orange County Brand Experience Center in Southern California, but it didn't reveal further details about that facility. Related Video: Featured Gallery Fisker Atlantic: New York 2012 News Source: Bloomberg News, Karma Automotive Green Plants/Manufacturing Fisker wanxiang atlantic fisker atlantic extended-range plug-in karma karma automotive