Fisker Announces $100 Million Revenue From Karma

By Blake Z. Rong | May 29, 2012
Despite such minor setbacks as a garage fire, Fisker's Karma is still reaping in, well, the karma. Sales of the luxury electric plug-in car have made a nice $100 million in revenue for the young company, just in 2012. The Karma retails for $103,000. And for the past 4 months this year, Fisker has sold 1,000 to customers in America and Europe. Fisker is moving onto a smaller electric vehicle, the Atlantic, which was previewed at the New York Auto Show a couple months ago. Presumably, some of this revenue will go towards Fisker's new plant in Wilmington, Delaware, alongside a $500 million loan from the Department of Energy—but only if Fisker can keep its promises. “We are encouraged by solid demand for the Karma,” Tom LaSorda, Fisker CEO and former Chrysler wunderkind, said. “Pending completion of investment sourcing, we are poised to press ahead with further market expansion and development of our higher volume model, the Fisker Atlantic.”
There are still some problems with the Karma that threaten to chip away at the company's momentum. There's that aforementioned garage fire that the NHTSA is now investigating—and the Karma hasn't exactly had a stellar reputation for not breaking down or stranding its owners. The Karma has been on-and-off recalled sporadically, which is normal in the automotive world, but in the mysterious territory of electric cars, any chip in its reputation will be a reflexive damning of the entire enterprise. Hopefully the company can overcome this—because the Karma is, if anything, still pretty to look at. Source: Bloomberg

Dear Fisker Mgmnt: When will you pay back the half billion $$ that US taxpayers forwarded to you to help start production of cars in Newport, DE? Our $500 million went, instead, to produce cars in FINLAND. The DE plant - still - sits idle, weeds growing in the parking lot .. no jobs created (2,000 were predicted). Overall return on investment for US taxpayers? Nada, zilch, zero Fisker is a fiasco ...................