The soon-to-relaunch Fisker Karma will be basically the same car as the one that sunk Fisker in the first place, albeit with some much-needed upgrades.
Browsing the "Fisker Atlantic" Tag
The Wanxiang Group now owns the rights to the Fisker Karma, which it plans to relaunch after fixing some 250 “bugs” found in the original design.
Wanxiang is going to fight Tesla using the same tactics as Elon Musk. Mr. Lu will be starting his electric car ambitions in America before coming to China.
Can Fisker’s new Chinese owners build a rival to Tesla Motors? Wanxiang Group’s billionaire owner Lu Guanqiu wants to do just that, or go broke trying.
Under new management, Fisker is readying a relaunch for the middle of 2015, though it might not be called Fisker anymore, according to its interim president.
Flush with Wanxiang funding, the New Fisker is bringing back the Karma super sedan and its baby brother: the new for 2015 Fisker Atlantic plug-in hybrid.
Representatives of the Wanxiang Group have pledged to restart Fisker Karma production within a year, and to complete development of Fisker Atlantic.
Just when it looked like the Fisker Automotive saga might be put to rest, a last-minute bid from China’s Wanxiang Automotive has thrown the whole thing into a little bit of legal chaos.
Once valued at around $1.4 billion, Fisker Automotive is a husk of its former self, worth just a small fraction of its peak value. With no money left to build cars, Fisker is trying to sell itself to the highest bidder, and so far only Bob Lutz and the Chinese have shown any interest. But the latest suitor comes from Germany, and may be Fisker’s best hope.
Why did Fisker Automotive fail? There are plenty of reasons, though newly revealed internal documents reveal the biggest reason of all. The only product Fisker sold, the Karma sedan, cost the company $35,000 more than they sold it for. Add to that lavish spending by executives and costly engineering mistakes, and you have a company that was doomed to fail from the beginning.
With Fisker Automotive on the brink of bankruptcy, there are those of us left wondering how this small niche automaker managed to spend $1.3 billion of public and private investments in just a few short years. A new report lays out in detail how Fisker Automotive blew through a billion dollars, while developing and delivering just over 2,000 vehicles, becoming possibly the biggest venture capital blunder in history.
The news surrounding green automaker Fisker Automotive has been nothing but negative the past few weeks. But let’s take a step back and admire the Fisker Karma for what it is; a gorgeous, if flawed car with limitless customization potential. Tuning shop Ultimate Auto went to town on a Fisker Karma, and the result only improves on this great-looking ride.