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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.

Wanxiang's last-minute bid for Fisker could restart Karma production, add Atlantic hatchback [UPDATE]

The remains of bankrupt Fisker Automotive are supposed to be sold by the Department of Energy to Hybrid Tech Holdings LLC for $25 million. But, the new year brings a new possibility for the troubled plug-in hybrid automaker and now we hear that Wanxiang America Corp. wants to jump in at the last minute and snatch Fisker up in a 'stalking horse' deal. A hearing is scheduled for tomorrow. Stalking horse offers are intended to prevent undervalued deals from taking place. Since the DOE is reportedly losing $139 million on its Fisker holdings, it seems like any pressure to increase the $25 million bid would be welcomed. Wanxiang's bid isn't that much different than what Hybrid Tech Holdings was offering, though, since WHYY reports that Wanxiang is offering to pay "$24.7 million and will assume some of Fisker's liabilities." The big difference is that a Wanxiang purchase could bring Fisker production back to life. The big difference is that a Wanxiang purchase could bring Fisker production back to life. In court documents, Wanxiang mentions a new Fisker design (a hatchback version of the Atlantic, pictured above) and proposed restarting Karma production at Valmet in Finland, the place where all of the Karmas built to date have been made. At an unspecified future date, production would be moved to VL Automotive's manufacturing facility in Michigan. Wanxiang calls VL a business partner, but you might remember it as the Bob-Lutz-connected company that wants to put small-block Corvette V8 engines into Karma bodies, creating the Destino. Lutz and Wanxiang previously tried to buy Fisker in early 2013. You can find the court documents below, and the concept is on page 11 of the Wanxiang Presentation. On page six you will find mention of a "Karma / Destino production line" and then on page 12 we hear about trucks, cargo vans and SUVs, all of which hints at Wanxiang's big dreams. How big? Wanxiang thinks it could sell 1,000 Karma/Destinos in the first 18 months in the US, along with 500 a year in Europe. The last stalking horse in the plug-in vehicle industry happened when Coda went under. Before that, Johnson Controls acted as a stalking horse against Wanxiang Group Corp. when Wanxiang bought the remains of A123 Systems. A123 batteries were used in the Fisker Karma powertrain, but the relationship between the two companies was troubled. Perhaps when everything is owned by the same corporate entity, things will run smoother.

Fisker unveils EMotion electric sedan's butterfly doors

Henrik Fisker runs a new company called Fisker Inc., founded after Fisker Automotive crumbled and the Karma electric sedan went to China to be resurrected as the Revero made by a company called Karma. Any new company needs a new product, and Fisker has it: the EMotion electric sedan, which will bring its 400-mile-plus range, four butterfly doors, and a tiny example of its "revolutionary" battery to next week's Consumer Electronics Show in Las Vegas. We have about enough specs on the EMotion to fill a Post-It note, but we're told that the range comes courtesy of a whopping 143-kWh lithium-ion battery that can be re-juiced with a 125-mile range in nine minutes. Fisker Inc. had formed a joint venture with Nanotech to produce graphene batteries, but the JV fell apart. Fisker says the replacement li-ion batteries sourced from LG Chem employ proprietary module packaging to create "probably... the most energy dense battery pack in the world." The company won't be ready to divulge all of its battery and cooling secrets at CES, however, reps do plan to bring a cellphone-sized version to demonstrate the possibilities. Other innovations in development are an automated, hands-free charging connector. As for those doors, they take us back to the Savage Rivale Landyacht GTS, being butterfly portals all around, rear-hinged for the rear set. Not sure how practical they'll be, but they make the all-wheel drive EMotion look like nothing else - something the EMotion already didn't need to worry about. Fisker says the sedan's interior will be more spacious those of its competitors, with rear legroom exceeding that of "many full-size luxury sedans." Every seat gets viewing screens, and top speed rings in at 161 miles per hour. Fisker expects production to begin in 2019 somewhere in the US, and set the base price at $129,000. The order books are open now, with a $2,000 deposit securing your reservation. Related Video: