• Fisker Automotive’s product strategy is to first and foremost establish strong Karma sales worldwide in 2012 and generate a strong business, and then to plan for the introduction of Nina at Delaware Assembly with the help of a loan from the DOE or other sources.

• With Karma we have made tremendous progress in a very short amount of time, developing and launching an all-new luxury plug-in hybrid Electric Vehicle with extended range (EVer) that is taking the auto industry in a new direction.

• With Project Nina, we have completed Phase One of the re-commissioning of a former General Motors plant in Wilmington, Delaware.

• We have temporarily delayed work at the plant based on ongoing discussions with the DOE regarding funding for the Project Nina program. As a result, we have laid-off 26 people.

• A flex model of expanding and contracting staffing for development of new cars is routine in the automotive industry. Project Nina is already well-advanced. Much of the engineering, design and development is near complete and we expect to ramp up operations again quickly.

• To date we have received $193m of the $529m DOE loan, mostly for the Karma (K) program, and received our last reimbursement in May 2011. We are renegotiating some terms of the DOE agreement for the $336m balance of the loan related to the Project Nina program

• Fisker Automotive is in the middle of discussions with the DOE, however Fisker has been, and continues to pursue, alternative funding sources. We have successfully raised an additional $260 million of equity in late 2011, bringing the total amount of private equity financing to more than $850 million.

Sales of the Fisker Karma have commenced

Anaheim, California USA– October, 18 2011 Fisker Automotive announced today that the Company has commenced sales of its 2012 model year Karma sedan after having received certification from the US Environmental Protection Agency (EPA) earlier this week.

As the first luxury sports sedan on the market with a range-extended electric powertrain, the Karma creates an alluring class of its own. By further combining world-class style and performance, the Karma is the only environmentally responsible option for most luxury car buyers.

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“With receipt of EPA certification in hand, we have achieved a major milestone by recording the first sales of our groundbreaking Karma sedan,” said Henrik Fisker, CEO and co-founder of Fisker Automotive. “Production of the Karma is ramping, and we have a strong dealer network in place so we can deliver many more of these truly amazing automobiles to customers during the remainder of 2011 and for many years to come.”

The Karma Sedan is a series Plug-in Hybrid Electric Vehicle (PHEV) powered by a lithium-ion battery and an efficient 2.0-liter range-extending gasoline engine. The gasoline engine only turns a generator, which charges the battery and sends electricity to two electric traction motors that drive the car.

It is optimized to provide the ability to travel in all-electric mode for typical daily use, but can also leverage the existing gasoline infrastructure to power its range extending generator, as needed, thereby eliminating ‘Range Anxiety’ and providing the freedom, flexibility, and peace of mind that comes with the extended range of a conventional vehicle.

The Karma’s all-electric range was found to be 32 miles by the EPA under its test criteria. To put that figure in perspective, a Karma driver with a 40-mile commute who starts each day with a full battery charge will only need to visit the gas station about every 1,000 miles and would use just 9 gallons of gasoline per month. The Karma battery can be recharged in less than six hours using the same 240v household current that powers many major home appliances. The Karma can also be charged using standard 110v power from any electrical outlet.

US EPA certification now official

Anaheim, California USA – October 18, 2011 Fisker Automotive is pleased to confirm that the 2012 Fisker Karma sedan has received emission certification and fuel economy ratings from the US Environmental Protection Agency (EPA), allowing the company’s dealers to begin selling the car to customers immediately in most states.

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As the first luxury sports sedan on the market with a range-extended electric powertrain, the Karma creates an alluring class of its own. It blends supercar performance and luxury with a tailpipe CO2 output that is comparable with today’s conventional compact hybrid cars.

The EPA – with its newly formulated methodology for rating electric vehicles – found that, when running in electric mode, the Fisker Karma sedan achieves the energy equivalent of 52 miles per gallon city/highway combined. The Karma sedan’s 52 MPGe is close to the Obama administration’s mandate of an industry average goal of 54.5 mpg by 2025, demonstrating that Fisker Automotive’s Electric Vehicle with extended range (EVer™) powertrain technology clearly represents the future for the automotive industry.

The Karma’s all-electric range was found to be 32 miles by the EPA under its test criteria. To put that figure in perspective, a Karma driver with a 40-mile commute who starts each day with a full battery charge will only need to visit the gas station about every 1,000 miles and would use just 9 gallons of gasoline per month.

Fisker’s own analysis suggests that many Karma drivers will actually experience a longer all-electric range under most every day driving conditions. Research also reveals that more than half of American’s have a daily commute of less than 32 miles, a comfortable distance for the Karma to run in electric-only mode from a single charge.

“We are delighted to have EPA certification and fuel economy ratings that verify the Karma’s remarkable green credentials.” said Henrik Fisker, CEO and co-founder of Fisker Automotive.

“As with all electric vehicles, range varies greatly on the conditions of the road and how you drive the car. We firmly believe that most owners will get up to 50 miles of driving range on a single charge and will use our electric-only mode most of the time they drive the car, thereby running on zero emissions. Overall, we are very pleased with the results of EPA’s tests. The Karma is a groundbreaking product with a unique powertrain.”

[View with PicLens]

Fisker Automotive, the California manufacturer of premium plug-in hybrid electric vehicles today revealed additional images shot specifically for the European market, as part of its international marketing campaign.

“The Paris Motor Show is the perfect venue to unveil the striking images of the Karma shot by avant-garde photographer Miles Aldridge. The Karma proves environmentally responsible vehicles do not have to sacrifice design,” said CEO Henrik Fisker.

The “Pure Driving Passion” campaign was born from the compelling Fisker design philosophy that the auto industry can only be elevated by refusing to compromise. Fisker Automotives unyielding pursuit of pure design has led to one of the most sustainable and accountable vehicles in automotive history and the campaign reflects these impassioned principles.

“Pure Driving Passion” is a celebration of how the Karma redefines the automotive industry through the seamless blend of eco-minded luxury, exhilarating performance, the sensuality of superior comforts and unparalleled sustainability.

A major objective of the campaign is to educate the public on how eco-consciousness can be sexy. To graphically communicate the sensuality of the Fisker Karma’s sustainable designs, world renowned photographer Miles Aldridge captured beautiful images that express the brand’s captivating, sexy essence. The campaign imagery reflects how Fisker Automotive is dramatically changing the industry with an unrestrained passion for pure design.

“We wanted people to feel the emotion and sensuality of the Karma through the imagery while at the same time discovering the unique features such as the solar roof and plug-in technology that contribute to a design rooted in environmental consciousness,” said Marti Eulberg, Vice President of Global Sales and Marketing.

The website, www.FiskerAutomotive.com, includes all the images shot by Miles Aldridge and also a live action film, “Melting Ice,” shot by the Academy Award-nominated cinematographer of Inception, The Dark Knight and The Italian Job, Wally Pfister.

The thrilling vignette showcases the sensuality and exhilaration of introducing the world to a pure driving experience with no inhibitions.

For developing the campaign and overall brand identity, Fisker sought the help of Southern California global branding experts Lambesis (Tacori, Gruppo Campari’s SKYY Vodka, LVMH’s Grand Marnier, Coca-Cola’s DASANI).

Photo courtesy of AutoEvolution.com

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Fisker Automotive Press Release

Anticipation and excitement has grown at Fisker Automotive and with the general public wanting to see the production Karma. Today, Fisker Automotive unveiled the first factory built luxury plug-in Karma at the Paris Motor Show.

“This vehicle represents our goal of bringing an eco-friendly vehicle founded on the principals of ‘Pure Driving Passion’ to consumers around the world,” said CEO Henrik Fisker.

The message has always been clear – designing a beautiful vehicle utilizing innovative technology provides freedom to the driver, versus containment – fusing green technology with energy independence. It also involves an unwavering commitment to purity. When sourcing environmentally conscious and sustainable materials, if Fisker designers and engineers felt the existing technologies did not meet their exacting standards, they developed new, superior approaches that have resulted in several proprietary designs.

One of these unique technologies is the world’s largest continuous solar panel roof for an automobile. This beautiful, sculptural form captures the power of the sun to help power the Karma.

The pursuit of pure design also led Fisker to create one of the most sustainable and accountable interiors in automotive history.

To process the leather for the Karma’s interior a 100% sustainable manufacturing strategy is used, resulting in one of the highest yields in the industry. This process is conducted at the world’s first energy self-sufficient, closed loop leather manufacturing plant where both gas and electricity are generated on-site from by-products of the leather making process.

The Karma’s interior wood wings and accents are also unique and sustainable – sourced from certified fallen, sunken and rescued wood to create a luxurious sensory experience inspired by nature.

Fisker Automotive’s commitment to purity throughout the Karma reflects its dedication to introducing sustainability and accountability to luxury automotive design – Responsible Luxury.

To date, Fisker Automotive has nearly 70 patents and patents pending for the Karma – a very good reason to have kept the Karma’s technical detail under wraps.

From Concept to Reality, Unchanged

Designed by Fisker Automotive co-founder, CEO and executive design director Henrik Fisker, the four-door, four-passenger Karma combines world-class style with better efficiency and lower emissions than today’s best hybrids to deliver an uncompromised, premium vehicle that sets the tone for the future of driving. Mr. Fisker is responsible for designing some of the most desirable and iconic luxury sports cars of the modern era, including the Aston Martin V8 Vantage, Aston Martin DB9, BMW Z8 and Artega GT.

With exotic car looks, sports car performance, an achievable annual average economy of 2.4L/100 km (100 mpg) and emissions of just 83g/km, the 300 kW (403 hp/408 PS) Fisker Karma is the only truly responsible alternative to traditionally powered luxury cars.

True to Fisker’s goal of bringing the Karma concept to reality in its original form, the production car retains, and even adds to, all of the original concept’s elegant design, dramatic proportion and unique features.

“Too often concept cars are just that – concepts,” Henrik Fisker said. “As car enthusiasts we wanted to see all that excitement and imagination make it to production. It’s what keeps us in love with cars. I feel our team has succeeded in every way.”

Most notable is the Karma’s athletic appearance. At 4.99 meters (196.7 in) long, 1.98 meters (78.1 in) wide and just 1.33 meters (52.4 in) high, the Karma’s final dimensions remain virtually the same as the concept’s.

A long hood — accentuated by a large dash-to-axle ratio — and short deck give the Karma a timeless silhouette. Its expansive (3.16 m/124.4 in) wheelbase, short (913/923 mm – 35.9/36.3 in f/r) overhangs and wide (1.69/1.70 m – 66.6/67.0 in f/r) track reinforce the Karma’s performance orientation even when standing still.

Also retained from the concept are the 22-inch aluminum-alloy ‘Circuit Blade’ wheels and the world’s largest spherically curved, monolithic solar roof panel, which communicate the car’s advanced technology and environmental purpose. The Fisker Karma is the first car to be equipped with 22-inch wheels as standard equipment.

In addition, the production Karma keeps the concept’s complex parting lines around front and rear fascias, along with the industry’s tightest tire-to-wheel arch relationship. These details enhance the Karma’s overall design and set it further apart from its competitors.

The most significant visible exterior change is the addition of B-pillars, which increase the Karma’s structural rigidity and help it meet global crash protection requirements.

Unique to the segment is the Karma’s absence of external window frames between rear door-glass panes, which improves aesthetics and reduces wind noise.

While the Karma Command Center™ — the industry’s first and, at 25 cm (10.2 in), largest haptic feedback touch screen – elegantly consolidates into a single location controls for automatic dual-zone climate, audio/infotainment, phone, navigation and vehicle systems.

Like the concept, the production Karma has a four-seat cockpit with a large center console running from the dashboard to the rear seatback, which houses the rechargeable Lithium ion battery.

This console incorporates intuitive gear selector buttons in place of the original shifter, as well as electric window controls, seat heater switches, storage and four cup holders.

Advanced Technology Plug-in Hybrid Power

Under the skin, Fisker’s exclusive Q-Drive® plug-in hybrid electric powertrain technology combines world class performance with industry-leading economy and the lowest emissions.

With 300 kW of power and more than 1,300 Nm (981 lb-ft) of torque at zero rpm the electrically-driven Fisker Karma can quickly reach Autobahn speeds, yet achieve better annual average fuel economy and lower CO2 emissions than nearly any other production car.

Karma drivers will not be concerned about Range Anxiety. By leveraging the world’s existing gasoline infrastructure, the Fisker Karma has a total range of 480 km (300 mi).

Eighty kilometers (50 mi) are electric-only and tailpipe-emission free when powered only by its 20 kWh Lithium ion battery, which can be recharged in as little as six hours on standard 240-volt current.

When the battery is depleted, or when the driver engages Sport mode, the Karma’s 2.0L, turbocharged four-cylinder Ecotec® gas engine automatically turns a 175 kW generator that sends electricity to two 150 kW (201.5 hp/204 PS) electric traction motors mounted directly to the rear differential.

This single speed gearbox ensures a smooth, constant delivery of power to the wheels without hesitation, all the way to the Karma’s top speed of 200 kmh (125 mph).

World Class Manufacturing

While Fisker Automotive is globally headquartered in Southern California, the Karma will be built by Valmet Automotive at its state-of-the-art flexible assembly plant in Finland.

Fisker partnered with Valmet because the 41-year-old company was able to meet Fisker’s strict requirements of cost-effectively building 15,000 high quality, advanced technology vehicles per year for international markets.

Since 1969 Valmet has built more than 1.1 million vehicles for demanding customers all over the world, and currently builds Porsche Boxster and Porsche Cayman sports cars for Porsche AG.

The Fisker Karma is the world’s first premium plug in hybrid and the embodiment of the design-driven company’s firm belief that environmentally conscious cars need not sacrifice passion, style or performance.

“We are very excited to be introducing the first factory-built Karma luxury plug-in hybrid in Paris, a city known for inspiring its own passions”, said Henrik Fisker.

Media reviews should start to appear shortly thereafter, now that the final production car will be ready.

Fisker hopes to produce 15,000 Karma models per year at the facility, and pilot production has already started. Fisker aims to eventually build 100,000 cars per year once production of the upcoming Nina model line begins in Delaware in a few years.

Details on Fisker’s European and Asian retail networks will be revealed at the show, along with European-market-specific promotional images.

The Fisker Automotive exhibit at the 2010 Paris Motor Show will be  placed next to Venturi and directly across from rival Tesla Motors.

More details are below in the official Fisker Press Release.

IRVINE, California – September 15, 2010: Fisker Automotive, the California manufacturer of elegantly designed, premium plug-in hybrid electric vehicles, will debut the first factory-built Karma at the 2010 Paris Motor Show. Fisker will also announce details about the expansion of its prestigious global importer network, as well as the addition of unique images to its game-changing international marketing campaign.

The Fisker Karma plug-in hybrid redefines the luxury category with exhilarating performance, superior comfort and unparalleled sustainability.

Designed by company co-founder, CEO and executive design director Henrik Fisker, the four-door, four-passenger Karma offers luxury car buyers a truly responsible alternative to traditionally-powered vehicles by combining exotic car styling with advanced powertrain technology that delivers better efficiency and lower emissions than today’s best hybrids.

Mr. Fisker is responsible for designing some of the most iconic and desirable luxury sports cars of the modern era, including the Aston Martin V8 Vantage, Aston Martin DB9 and BMW Z8.

Fisker Automotive has led the auto industry in the development of luxury plug-in hybrids since introducing the Karma as a concept in January 2008, just months after the company was established. With that introduction the dynamic auto maker created a new market segment and will be the first in the world to have such a car to market.

“We had a chance to change the premium vehicle segment with a new kind of vehicle and a new brand that appeal to consumers who are passionate about the environment, and who wish to drive a beautiful car that reflects their desire to lead a lifestyle of responsible luxury.” Fisker said. “We are very excited to be introducing the first factory-built Karma luxury plug-in hybrid in Paris, a city known for inspiring its own passions.”
The Fisker Karma plug-in hybrid represents the future of the automobile. Inspiration from nature’s harmonious balance can be found in every element of the car’s design for a pure, clean styling that celebrates timeless beauty. What’s more, the 300 kW (403 hp/408 PS) Karma reaches 100 km/h in 5.9 seconds and a top speed of 200 km/h, yet can achieve an annual average economy of 2.4L/100 km (100 mpg) and emissions of just 83g/km.

Such a stunning combination of style, power, luxury and efficiency affirms Fisker Automotive’s belief that fast, beautiful cars can still be green.

Building a Global Network

To support its ultimate goal of producing more than 100,000 cars per year, Fisker Automotive is building a world-class global importer and retail network to market and service its vehicles.

In Paris, Fisker Automotive will share details about the prestigious European and Asian groups with which it has partnered to establish the brand on both continents, and that know the tremendous market potential for premium, environmentally conscious vehicles.

New Images for International Marketing Campaign

In July 2010 Fisker Automotive launched “Pure Driving Passion,” the company’s first international marketing campaign, with a new website, www.fiskerautomotive.com.

Featuring the work of avant-garde fashion photographer Miles Aldridge (Vogue, Cartier, Hugo Boss) and Academy Award-nominated cinematographer Wally Pfister (Inception, The Italian Job, The Dark Knight), “Pure Driving Passion” changes the way cars are traditionally marketed, aims to educate consumers to the benefits of plug-in hybrid technology, and shows that environmentally conscious vehicles can be sexy.

Having already broken the mold of traditional automotive marketing with striking imagery inspired by the fashion and art worlds, Fisker will use Paris as a backdrop to reveal new images shot specifically for European markets.

The company expects to fulfill testing requirements, begin production and make initial customer deliveries before the end of the year. Full production will ramp up in first quarter 2011.

The close — inclusive of $115 million Fisker Automotive announced it had secured access to in January — comes ahead of schedule to meet funding commitments associated with a $528.7 million U.S. Department of Energy loan that will support the development of two lines of plug-in hybrids.

Since being established in August 2007 Fisker Automotive has raised more than $300 million in private equity.

Designed and engineered in California, the Karma, a stylish plug-in hybrid sedan, will be sold in global markets. A demonstration model is currently touring the company’s 45 U.S. retail locations.

Development of the Karma enables Fisker Automotive to create a second, lower-priced line of plug-in hybrids, currently code-named Project NINA, that will be built in a former GM assembly plant in Wilmington Delaware.

Full details are below in the press release from the Department of Energy.

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Press Release

Department of Energy Announces Closing of $529 Million Loan to Fisker Automotive

Manufacturing at Shuttered Delaware GM Plant Expected to Create Over 2,000 Jobs

Washington, DC – The Department of Energy announced today the closing of a $528.7 million loan with Fisker Automotive for the development and production of two lines of plug-in hybrid electric vehicles (PHEV).  The loan will support the Karma, a full-size, four-door sports sedan, and a line of family oriented models being developed under the company’s Project NINA program.

“The story of Fisker is a story of ingenuity of an American company, a commitment to innovation by the U.S. government and the perseverance of the American auto industry,” said Vice President Joe Biden.  “The Boxwood Plant is opening again, employing workers in Delaware, and is serving as a roadmap for all we can accomplish if everyone works together.   Thanks to real dedication by this Administration, loans from the Department of Energy, the creativity of U.S. companies and the tenacity of great state partners like Delaware – we’re on our way to helping America’s auto industry reclaim its top position in the global market.”

Fisker, a startup based in southern California, expects to manufacture the Karma and Project NINA lines at a recently shuttered General Motors factory in Wilmington, Delaware.  Fisker anticipates that it will employ 2,000 American assembly workers.  Industry experts expect that domestic parts suppliers and service providers also will increase employment substantially.

“Not only will the Fisker projects contribute to cleaner air and reduced carbon emissions, these plug-in hybrid cars will help put American ingenuity at the forefront of automotive design and production,” said Secretary Chu.  “And they will bring innovative cars to the market place while putting American workers back on the job,” Secretary Chu added.

Fisker’s plug-in hybrid products will be among the first to market and will help to accelerate the introduction of fuel-saving electrified vehicles in the U.S. When full production is reached in 2015, Fisker estimates annual sales at up to 115,000 vehicles. Combining Fisker projected sales volume with the expected sales volume of the Nissan Leaf and the Tesla Model S, sales of electric and PHEVs funded with DOE ATVM loans could exceed 300,000 annually.

Initially, Fisker Automotive will use the proceeds of the loan for qualifying engineering integration costs as it works with primarily U.S. suppliers to incorporate components into the Karma’s design.  The engineering integration work will be conducted in Irvine, California, where engineers will design tools and equipment and develop manufacturing processes.  The Karma is scheduled to appear in showrooms in late 2010. The second stage will involve the purchase and retooling of the former GM plant to manufacture the Project NINA line of PHEVs, which is expected to begin rolling off the assembly line in late 2012.

Fisker automobiles are driven by electric motors that get their power from a rechargeable Lithium-ion battery, or, when that is depleted, by a generator driven by an efficient gas-powered engine.  The Karma and Project NINA models will have an all-electric, tailpipe-emission-free range of 40 to 50 miles on a full charge, more than most Americans drive each day.  The battery can be charged at home overnight.  Using gas and electric power, Fisker plug-in hybrids are expected to have a cruising range of up to 300 miles.

The Department of Energy’s Advanced Technology Vehicle Manufacturing Program supports the development of advanced technology vehicles with improved fuel efficiency which help reduce the nation’s dependence on oil. This is the fourth loan arrangement signed by DOE with an advanced technology vehicle manufacturer.