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Henrik Fisker interview: the EMotion EV, and a 'game-changer' charging method

In Torrance, Calif., a Danish-born designer-cum-CEO is putting his own name behind a car company he's building. It's not the first time Henrik Fisker has done this, but perhaps it'll go a little more smoothly this time around. The timing seems better for what he wants to do, which is launch a high-end, long-range electric vehicle. It's not settled where Fisker will build its first car, the $129,900 EMotion EV, yet. The company is looking to buy an existing factory but hasn't chosen one yet. Henrik Fisker tells us they've looked at a few, but with no hint of pressure in his voice, says, "We don't have to make a decision until the end of the year." Fisker expects to begin producing the EMotion in 2019. FISKER EMOTION: THE BASICS The Fisker EMotion is powered by two electric motors, one in the front and one in back, giving it all-wheel drive. Fisker told us the EMotion has "a new type of electric motor that we are working on together with a very large supplier." He said it's efficient, light, and compact, but declined to offer up other details, including output. That announcement will come later. In terms of aerodynamics, Fisker says there's a limit to what you can do and still make the vehicle look nice. "You can make a pretty ugly car that's very aerodynamic. You probably remember the GM EV1 that was super aerodynamic, but not necessarily a very pretty car. The Fisker brand is about good-looking cars." Fisker says, though, that there are aero benefits that an electric powertrain makes possible. He was able to lower the front of the EMotion, which he says really makes this four-door look evolved compared to the traditional sedan. With no gasoline engine up front, that lowered cowl also improves the view of the road ahead. Because of its electric layout, The EMotion is able to have its wheels at the very corners, with minimal front and rear overhang. The car features what Fisker calls a "very, very dramatic" functional rear diffuser, which takes advantage of the EV's flat underside. The EMotion also has a small integrated rear spoiler, and airflow around the wheels was optimized without disrupting the car's sculptural look. With the EMotion, Fisker wants to blend sport with luxury. Again, thanks to the packaging of the electric powertrain, the company is able to create a roomy interior by pushing the windshield forward and the rear window back. Fisker even goes so far as to compare the rear legroom to that of a BMW 7 Series.

Fisker assets will be auctioned tomorrow, here's the situation today

The remains of Fisker Automotive - which might not even include the name and logo - are supposed to finally be sold off tomorrow, but the scene before the auction is anything but clear. As as reminder, the two bidding parties are Wanxiang and Hybrid Tech Holdings. Hybrid Tech was denied an emergency motion in court last week that would have lifted an earlier ruling that limited how much debt it can use to try and buy Fisker. The limit remains at $25 million. Bloomberg says that the winner's spoils are not so much the cars or the design but the 36 patents involved (about half are pending) as well as an established vehicle brand in both the US and China. The chief economist for the National Automobile Dealers Association, Steven Szakaly, told Bloomberg that, "[the auction is] not about the manufacturing, It's about the intellectual property." The patents include things like the electric drivetrain tech, the solar technology and the design of the mustache grille. Fisker executives have been hit with a $20-million lawsuit that claims they misled investors. And because lawsuits are easier to get than a DOE loan, a number of Fisker executives and the company's legal team have been hit with a $20-million lawsuit that claims Fisker misled investors. The Wall Street Journal reports that Fisker is accused of withholding information that would have given a clearer picture of Fisker's financial situation. According to the WSJ, the lawsuit says the Fisker team kept the negative news quiet, "because they needed huge sums of additional cash to fund Fisker Automotive to position the Company for a sale or an initial public offering...without plaintiffs' and other investors' money, Fisker Automotive was not a viable company." Meanwhile, Hybrid Tech Holding has hired a former Ford executive, Martin Leach, to be better prepared to manage the Fisker assets should Hybrid Tech win tomorrow. Leach told Reuters that he has been working on a business plan "for months," and it starts with the company taking care of current Karma owners and re-engaging suppliers. The most difficult challenge, we imagine, will be with A123 Systems, which supplied the Karma's batteries but was bought by Wanxiang over a year ago. Leach said that Hybrid could get new batteries from Boston Power. Featured Gallery Fisker Atlantic News Source: Bloomberg, The Wall Street Journal, Reuters, AP Green Fisker Electric Hybrid PHEV lawsuit fisker atlantic martin leach

Auto startups chasing Tesla race past red flags to go public

Missed out on the Tesla rally but still want to surf the electric vehicle wave? A stream of EV-related startups backed by blank-check firms is lining up to go public so there are plenty of choices. But like Tesla in the early days, few have products ready to sell or any likelihood of generating significant revenue anytime soon. Instead, investors will be relying on rosy production, sales and revenue forecasts for new cars, trucks and batteries, all set to be jostling for a slice of markets that will be far more crowded than when Tesla's cars first hit the road. Take Fisker Inc, for example. It was launched in 2016, just three years after the bankruptcy of its predecessor and early Tesla rival Fisker Automobile. In July, Fisker Inc announced a $2.9 billion reverse merger deal with Spartan Energy Acquisition Corp, a Special Purpose Acquisition Company (SPAC), and is planning to go public later this year. It has no revenue and its Fisker Ocean electric sports-utility vehicle (SUV) is at least two years away from production in a project heavily dependent on nailing down deals with partners who will build the car and provide key components. That's not particularly unique for young companies in the sector looking to use SPACs to go public and bypass the scrutiny of a traditional IPO process, according to company presentations and interviews with executives and investors. That also didn't seem to be an issue earlier this year when U.S. electric truck maker Nikola Motors used a SPAC to go public. Shares in the company that hopes to generate revenue next year almost trebled after listing on the Nasdaq exchange. But they slumped when a short-seller questioned whether founder Trevor Milton had made false claims about Nikola's technology, forcing the 38-year-old entrepreneur to step down as executive chairman — and making some investors more cautious. Nikola and Milton have publicly rejected the accusations and have threatened to take legal action against the short-seller, Hindenberg Research. "Good storytelling is an important component of being a good founder and entrepreneur — but it better not be the only component," says Evangelos Simoudis, managing partner and founder of startup investor Synapse Partners. 'IT'S A FORECAST' Fisker Inc's founder Henrik Fisker is well known in the industry for designing sports cars such as Aston Martin's Vantage, and for his failed EV firm Fisker Automobile that went bust in 2013 after burning through more than $1 billion.