2023 Fisker Karma One - Launch Limited Edition on 2040-cars

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Fisker teases electric crossover, considers 11 states for production

We have some new breadcrumbs to follow on Fisker's affordable battery-electric crossover planned for 2021. The company released a new teaser image, said it has hired a veteran executive who formerly oversaw manufacturing at Volkswagen and Toyota, and said it is considering at least 11 states for a production location. First is the new teaser image, showing the still-unnamed 'ute in front three-quarters view. It gives a better sense of the crossover's raised stance and swept-back front glass than the previous frontal view, and it shows off the squared front wheel well, framing a seven-spoke wheel. There's also the slightest of definition of the rear hatch, courtesy of the dim brake light. Fisker said it has appointed Don Jackson as its senior advisor of manufacturing to spearhead strategy and site selection. Jackson has more than 40 years of manufacturing leadership, having worked most recently as president of manufacturing at Volkswagen of America, overseeing VW's Chattanooga, Tennessee plant from 2008 to 2012. He previously as senior vice president of quality and production for Toyota's Texas operations and also oversaw Toyota's manufacturing operations in Kentucky. Since leaving VW, he has worked as a consultant on lean manufacturing and other best management practices. He'll presumably continue to ply his trade in the United States, as Fisker says it's finalizing the selection of a location to build the SUV via an RFP process with at least 11 states. The company says California, Georgia, Indiana, Kentucky, Michigan, Missouri, North Carolina, Ohio, Tennessee, Texas and Virginia are all in the running. "I share Fisker's vision of driving mass electrification forward by producing more desirable EVs for the global market here in the United States, and I look forward to building a disruptive strategy that combines Fisker's unique business model with the very best manufacturing processes that assure unparalleled results and outstanding, reliable products," Jackson said in a statement. "The Fisker team is committed to exceeding customer expectations globally." Fisker announced the new crossover last month, saying it would be priced below $40,000, will feature an 80-plus kWh lithium-ion battery pack and is targeting a range of about 300 miles in a bid to take on Tesla and its own forthcoming Model Y crossover. Final pricing and a drivable prototype is anticipated by the end of 2019. The vehicle is expected to launch in the second half of 2021.

Wanxiang increases Fisker bid by $10m, hints at Delaware production

Just before a judicial hearing tomorrow on the fate of bankrupt Fisker Automotive, one of the two companies fighting over the company's remains, Wanxiang America Corp., said it is willing to increase its submitted bit by a cool $10 million in cash. Wanxiang is ready to bring its total starting bid to $35.7 million and said it is willing to pay 'considerably' more if US bankruptcy judge Kevin Gross approves the sale. Wanxiang says it would pay Fisker's unsecured creditors 50 cents (or more) on each dollar they are owed, while a competing bid from Hybrid Technology LLC would net them less than a penny per dollar. Wanxiang has also said that if it gains control of Fisker, it could restart Karma production in Finland and then wants to build a next-gen model (a hatchback Atlantic, which you can see here) in Michigan alongside the gas-powered version of the Karma, the Destino. Wanxiang is also hinting that it could build future models in Delaware, "if there's enough consumer demand." Remember, attorneys for Fisker wanted the judge to deny Wanxiang's initial bid altogether and want the plug-in vehicle company to be sold to Hybrid Tech. Last year, Hybrid Tech bought the Department of Energy's failed loan to Fisker for $25 million. The loan was originally valued at $529 million, but Fisker only ever accessed $192 million of that before the DOE got suspicious and stopped funding. Featured Gallery Fisker Karma by GS Automotive Art News Source: ABC News, Washington PostImage Credit: Gijs Spierings Green Fisker Electric Hybrid PHEV wanxiang destino

As Fisker heads toward liquidation, creditors fight over assets

NEW YORK — Electric vehicle startup Fisker is headed towards a liquidation, attorneys said in U.S. bankruptcy court on Friday, as two creditor factions previewed a battle over which group will be paid first.  Fisker filed for bankruptcy protection in Delaware on Monday after burning through cash in an attempt to ramp up production of its Ocean SUVs. The company initially said it would seek additional financing and continue "reduced operations," but Fisker's attorney Brian Resnick said at the hearing in Wilmington the company does "not currently anticipate being able to obtain financing."  Resnick told U.S. Bankruptcy Judge Thomas Horan that the company planned to liquidate its assets, and it has reached a tentative deal with a single buyer for all of its 4,300 vehicles.  The California-based company, founded by automotive designer Henrik Fisker, was never profitable, with about $273 million in revenue in 2023 and a net loss of $940 million.  Fisker owes over $850 million to two groups of bondholders, and attorneys for the larger group accused a minority faction led by Heights Capital Management of seizing control of Fisker's debt in November through a "suspect" transaction with Fisker.  At the time, Fisker was late in providing audited financial statements due under its debt agreements, and Heights used that "minor, technical default" to claim all of Fisker's assets as collateral on its bonds, Alex Lees, an attorney for other bondholders, said.  "They basically handed the whole business over to Heights," Lees told Horan. "Fisker has been liquidating outside of this court's supervision, basically for one creditor's sole benefit."  Lees said that Fisker should have filed for bankruptcy in November. His group intends to challenge the November agreement that put Heights at the front of the line for repayment in Fisker's bankruptcy, Lees said.  Heights' attorney Scott Greissman said Lees' claim was "outrageous" and that Heights tried to help Fisker survive.  "There may be a lot of disappointed creditors, but none more than Heights," Greissman said.  Greissman said the expected sale of Fisker's fleet would pay only a "fraction" of Heights' $185 million in debt. That would leave little hope of repayment for other creditors.  Linda Richenderfer, an attorney for the U.S.