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Fisker earnings call touts the Ocean's arrival, teases the Pear

Henrik Fisker's on his third go as head of an independent carmaker. It started with Fisker Coachbuild, putting new bodies on German sports cars to create the Tramonto and Latigo. His dreams soon went electric with Fisker Automotive and the Karma. The latest dream revision birthed Fiker Inc, the company behind the Ocean. Based on details provided during the company's Q4 and full-year 2022 results call with analysts, the third time could well and truly be the charm. The bullet points are a startup's dream. There are 56 Ocean prototypes on the roads, 15 of them in partner Magna Steyr's fleet for daily testing and validation. Fisker Inc spent less money than expected in 2022 ($702 million) and has more cash on hand than expected. And if things go smoothly in 2023, the predicted spend and gross margin could leave Fisker Inc with "potentially positive EBITDA [Earnings Before Interest, Taxes, Depreciation, and Amortization] for 2023." Huge if it happens. If there's slightly mixed news, it's with the Q1 2023 timeline. The good bit is that Fisker says homologation programs in the U.S. and seven European countries are "progressing well," the processes expected to conclude in March. After that, the company needs to secure final regulatory approvals from the U.S. EPA, California's Air Resources Board, and the seven international regions. Fisker touted the broad market strategy as lowering risk since getting approved in multiple markets would give the company the option to go where demand is greatest. The target has been to get the first 300 Ocean units delivered by the end of March, Fisker saying the company secured supplier commitments for the quarterly and annual build schedules. With the amount of paperwork yet to be done, though, hitting the March deadline could be close. After that, according to the CEO, it's back to uncut good news. Those homologation programs have apparently shown ranges better than expected for the Ocean. Instead of the 350-mile range predicted on the U.S. regime, Fisker thinks "it's going to be closer to 360 [miles]." Instead of the Europe's WLTP prediction of 630 kilometers, he said, "I think this will be closer to 700."  As of the end of February, the company is sitting on roughly 65,000 reservations or orders for the Ocean. The goal is to manufacture 42,000 units this year, the ramp-up going from 300 in Q1 to 8,000 in Q2, more than 15,000 in Q3, and at least 19,000 in Q4.

There's a new Karma Revero called the Aliso, and it costs $145,000

There's a slightly more luxurious version of the Karma Revero now, called the Aliso. The name comes from a California beach, and the appearance of the car does a decent job of emulating the aesthetic of a beach as well. On the exterior, you get what Karma calls Laguna Pearl white paint made with layers of glass flakes to give it a shimmering appearance. Carbon fiber wheels are standard with orange brake calipers giving a bit of contrast to the otherwise beach-like colors elsewhere. The interior is beige, or sand-colored if you ask Karma. It's unique from other Reveros in its red burl wood treatment all around. You'll be able to find scripted "Aliso" badging in various spots on the car, but that's pretty much it as far as differences between this and a normal Revero. We can safely classify it as an appearance package, although the carbon fiber wheels are pretty cool. For the car and all the extra goodies you'll pay $145,000. That's $15,000 more than a base Revero with all the same performance metrics. As a reminder, the Revero is a plug-in hybrid vehicle (based off the original Fisker Karma) with a pair of electric motors and 2.0-liter gasoline engine. In total, the system outputs 400 horsepower and 900 pound-feet of torque, shoving it to 60 mph in 5.4 seconds. So is having a unique Revero Aliso worth the extra cash on top of an already expensive vehicle? You may not even be able to choose, because Karma is making 15 Alisos with deliveries set to start in November and go into December. Meanwhile, since we mentioned Fisker: Something we're still waiting on is Fisker's solid-state battery tech it debuted at CES last year. Fisker says it'll be coming to EVs for 2020. Caterpillar seems confident of that too, as the construction equipment company just announced it's investing in Fisker, hoping it can one day take advantage of the electrification tech Fisker manages to develop. Related Video: This content is hosted by a third party. To view it, please update your privacy preferences. Manage Settings. Featured Gallery Karma Revero Aliso Green Fisker Hybrid Luxury Performance Sedan karma revero

Hybrid Technologies LLC increases Fisker bid to $55 million

Will more money equal more Karma? In the continuing fight over the assets of extended-range plug-in vehicle maker Fisker Automotive, a Hong Kong-based investor is ready to up the stakes. Hybrid Tech Holdings has announced it will increase its bid for the maker of the Karma to $55 million. A bankruptcy court judge recently ruled that Hybrid Tech couldn't use any more than $25 million of its Fisker debt for an on-credit bid for Fisker. Hybrid Tech bought Fisker's $193 million line of credit from the US Department of Energy for $25 million. "When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum," the company said in a statement. "Hybrid is working to achieve a rapid relaunch of Fisker." AutoblogGreen asked Hybrid spokeswoman Megan Grant for more details, but she said, "The statement distributed ... is the only information I am able to provide at this time." You can read the full statement below. At this point, Hybrid Tech's offer would trump Wanxiang Group's bid of $25.8 million (plus assumed debt) that was issued in late December and then boosted to $35.7 million earlier this month. Fisker favors the Hybrid Tech bid because it believes Wanxiang, which acquired most of the assets of lithium-ion battery maker A123 Systems in 2012, helped speed up Fisker's shut-down by stopping battery deliveries. Fisker filed for bankruptcy in late 2012. The auction for the remains will be held in February. Statement by Hybrid LLC Today, Hybrid Tech Holdings, LLC ("Hybrid"), a Delaware limited liability company, announced that it has modified the terms of its bid for Fisker Automotive Holdings, Inc. ("Fisker"), to reflect a purchase price of US$55 million. Hybrid intends to utilize Fisker's existing plant in Delaware to meet consumer demand and address market conditions. "Hybrid's confidence in Fisker's future is strong and unwavering. The Hybrid group has been an investor in Fisker for many years. When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum, as well as taking on the US$25 million risk of purchasing the Department of Energy loan. We did so for a simple reason; we believe deeply in Fisker's technology and we stand by the talent in the company who can bring the promise of this technology to life," said Hybrid spokeswoman Megan Grant.