World Auto News & Reviews

Have you been anxiously waiting for the day you could spec out a sinuously-styled plug-in hybrid sports car of your very own? Then your dream is one step closer because the configurator for the Fisker Karma is now online.

The last report by Leftlane concerning the future of the Fisker Karma suggested the start of production in Q1, 2011.

Today, Quantum Fuel Systems Technologies, a key supplier for the Karma’s Q-Drive powertrain, announced that Fisker had placed an order for $30 million worth of parts to be used in the Q-Drive powertrain system. In addition to that crucial update, Green Car Reports is also reporting that Fisker is specifically targeting February 2011 for the start of production.

Fisker Automotive is still in the absolute infancy of its life cycle as an electric carmaker, but it plans to produce as many as 100 examples of its first planned model – the Karma sedan – in order to carry out various forms of testing, according to Reuters.

During an interview with Reuters, Ray Lane, one of the investors in Fisker Automotive, gave clarification about the 70-100 vehicles and said, “These will be tested internally, crash tested and used for other testing purposes. Some of them will be given to customers for testing purposes as well, out in the real road.”

Quantum Fuel Systems Technologies Worldwide, Inc. announced today that Fisker Automotive, the plug-in Hybrid Premium American car company that Quantum co-founded, closed a Department of Energy loan for $529 million on Friday.

The $528.7 million DOE loan to Fisker will be used for the development and production of two models of plug-in hybrid electric vehicles, including the Karma, a four door sports sedan, and a line of family-oriented models being developed under Fisker’s Project Nina program. When full production is reached in 2015, Fisker estimates sales at up to 115,000 vehicles annually.

More information on the Department of Energy’s News Announcement can be found at Fisker Automotive at http://karma.fiskerautomotive.com/ or the DOE website at http://www.energy.gov/.

Quantum Fuel Systems Technologies Worldwide, Inc. , today announced that Fisker Automotive, the new American manufacturer of green automobiles which it co-founded, has secured access to an additional $115.3 million in private equity funding to develop plug-in hybrid cars. This funding is necessary for Fisker to access a $528.7 million U.S. Department of Energy conditional loan that will, in part, help speed completion of the Fisker Karma, the company’s first plug-in hybrid. The raise comes at a time when capital is scarce, the auto industry is struggling and the global economy is just beginning to rebound.