Fisker Plans to Restart Production of Plug-In Karma This Year

By Jacob Brown | February 24, 2014
If you had your heart set on a Fisker Karma up until the time the company went bust a year and a half ago, you're in luck. Fisker Automotive will soon be reopening its doors following a winning bid by China's Wanxiang Group. As noted by the company's U.S. head, Pin Ni, Wanxiang hopes to have Fisker restarted within a year, which is very likely to put it within 2014. "Obviously we want to sell more than what Fisker sold before under its previous management," Ni said in an interview with Reuters. Fisker sold approximately 1,800 Karma plug-in hybrid luxury sedans in the 2012 model year after initial estimates pegged the company selling upwards of 11,000 cars per year. Celebrities such as Colin Powell and Justin Bieber were among early adopters of the 5,400-pound, $100,000 luxury sedans.
Not before too long, Fisker's battery supplier, A123, filed for bankruptcy in 2012, leaving the automaker without enough parts to complete its Finnish-built cars. Wanxiang consequently bought A123 and, recently, Fisker after 18 rounds of bidding with a rival Chinese company. Complete with $529 million of U.S. government debt, Fisker's assets were sold earlier this year, including many patents for design and intellectual property. The idea, Ni says, is for Fisker to potentially start production of the Karma in Michigan where the VL Destino will also be produced. That car, by the way, is a gutted Karma with a Corvette engine and a nearly $200,000 price tag. Fisker will also restart development of its smaller Atlantic sedan as well as a new convertible and SUV. With rival Tesla having taken off at the same time Fisker floundered, it will be interesting to see what happens with the brand as it comes back online. We'll keep you updated as we find out more. Source: Reuters