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

Auto blog

2017 Karma Revero starts at $130,000, and more new details about the reborn Fisker

It was not obvious that the eyes of the automotive world would focus on Huntington Beach, California today for the launch (sort of a relaunch) of the Karma Revero. The unlikely rebirth of the Fisker Karma has taken a long while, and you'll be forgiven if you thought that Fisker's bankruptcy filing in 2013 signaled the end of the swoopy plug-in hybrid. Sure, at the time there was talk of the Karma returning some day, but in the era of plug-in vehicle pioneers like Aptera, Bright Automotive, and Phoenix Motorcars fading away in the figurative pages of Chapter 11 filings, who really thought it would happen? Wanxiang, that's who. Based in China, Wanxiang bought the rights to the Fisker assests back in February 2014 for $149.2 million. As we learned today in Huntington Beach, there were only 22 Fisker employees left at that time. A year later, in March 2015, the new Karma Automotive had 203 employees. There were 697 in August 2016 and the plan calls for 967 by the end of 2016. That's just one example of the intentional and dramatic growth that Karma is putting into bringing the Revero to market. Or back to market. Whatever. Here are seven things we learned about the Revero and Karma Automotive. The MSRP will be $130,000. The Fisker Karma started at $103,000, so the Revero's new $130,000 starting price tag is a bit of a jump. Aside from colors, wheels, and calipers, there won't be many options, either. Of course, there's a lot that's new and different about the car, and that costs money, but if you couldn't afford a Fisker, don't bother shopping for a Revero. The gas engine and most of the remains the same, but there have been upgrades. Just like the Fisker, the Revero uses a 260-horsepower, turbocharged four-cylinder engine from General Motors. But on the electrical side, things have gotten better. DC fast-charging at 40 kW is now available and the on-board charger has been upgraded from 3.3 kW to 6.6 kW. The battery is similar (it still uses A123 cells, which isn't a surprise), but the capacity has been increased from 20.4 kWh to 21.4 kWh, which will be good for 50 miles or range. The 0-60 time has been dropped by a second to 5.4 seconds in Sport mode. Nothing has been finalized yet, but apparently Karma expects the EPA fuel efficiency numbers to be roughly the same as before. The infotainment system has been totally redone.

Fisker could be renamed when production restarts in 2015

The Orange County Register has an update on Wanxiang's plans for Fisker, and it starts with the idea that you would see brand new Karmas back on the road in mid-2015. From there the goals get less certain, the OCR saying the Surf station wagon "could ship in 2016" and the mid-priced Atlantic "might come in 2017." The targets came from an interview with interim CEO Roger Brown as he laid out how fluid the present situation is. The primary certainty, according to Brown, is that new owner Wanxiang is determined to execute on its vision and "build a great car company." The puzzle pieces that make that picture are still being assembled – even the name of the post-bankruptcy company, Fisker Automotive for now, is being debated. No matter what the name will be, Wanxiang and Brown need to establish the blood and bones of a company that can provide what the original Fisker Automotive didn't. Brown said they're looking for a permanent CEO over the next three months, they need to settle on a location for headquarters and increase the staff from the current 25 to the 200 or so necessary to engineering a fully fleshed-out Karma and successive products, and figure out where cars are going to be built. Concerning workers, Brown revealed that, "We've been flooded with people that want to come back." As for manufacturing in the Delaware plant that Fisker Automotive still controls or somewhere else, we've heard there are even odds on US production, but the final answer will probably be delivered by the new CEO.

Hybrid Tech just made $65 million from bankrupt Fisker loan

We can now see at least one possible reason for why Hybrid Tech Holdings LLC bought the US Department of Energy's loan to Fisker Automotive last year for $25 million. The purchase is apparently worth $90 million today. The number is part of a settlement agreement that has come out of the company's asset auction which was won by China's Wanxiang Group Corporation in February for $149.2 million. Hybrid Tech said that the secured DOE loan it owned was worth all of that $149.2 million, but the new agreement says that Richard Li's company is due $90 million instead. The rest of the money will be divvied up between the unsecured creditors (who will split $20 million plus $15 million in equity in Wanxiang affiliates) and "priority claim holders" ($8 million). Delaware media has been interested in the case since Fisker bought an old General Motors plant near Newport and now reports that the state does not expect to get a whole lot back from its $20-million investment. Fisker filed for bankruptcy in late 2012. The asset auction is officially known as "In re Fisker Automotive Holdings Inc., 13-bk-13087, U.S. Bankruptcy Court, District of Delaware (Wilmington)."