Friday October 30, 2015 - 10:10 am
Published By: The Formula Publications Team
A renewed focus, a new brand, a California-based factory and a growing
market for luxury alternative-powertrain vehicles have former automaker
Fisker eyeing a strong return in 2016.
But when the luxury line
and its stunning plug-in hybrid offering hits dealerships, it won’t be
as a Fisker Automotive offering but rather from Karma, the original
handle of its first and only nameplate.
“It’s in our DNA,” the
company explains. “It’s a name that respects our past, while
simultaneously reinventing our future. An awareness of what we are
doing, and how and why we are doing it. It’s old. It’s new.”
The
Fisker story began in the late 2000s. Designed by Danish co-founder and
namesake Henrik Fisker, the company was headquartered in Anaheim,
Calif., but built its cars at a facility in Finland. Its one and only
nameplate, Karma, hit North America after Environmental Protection
Agency certification issues ended in late 2011.
The cars carried a
base price that topped $100,000 and quickly became a favourite of
celebrities and automotive journalists alike. Movie star Leonardo
DeCaprio became an equity investor and brand ambassador while Top Gear
Magazine named it luxury car of the year in late 2011.
The sleek
and luxurious four-door plug-in electric hybrids featured eco-friendly
extras like a solar paneled roof and reclaimed lumber accents. Powering
the sedans were two 120-kW motors from battery supplier A123 and a 2.0-L
turbocharged VVT DI engine.
Its retail network was a forbearer
in many ways to what Tesla has done around the world with many
dealerships set up in traditional retail locations like shopping malls.
Unfortunately
for Fisker and its fans, financial woes hobbled production after just
2,450 Karmas rolled off the line. Its battery supplier A123 Systems
filed for Chapter 11 bankruptcy protection in October 2012.
Confounding
the drama that month was the destruction of the 338 units parked at
Port Newark, New Jersey when Hurricane Sandy pounded the north-eastern
U.S. coastline.
Recalls, vehicle fires, funding missteps and
unfortunate twists of fate eventually forced the company to file for
bankruptcy in 2013. Chinese auto parts giant Wanxiang Group acquired
Fisker’s assets for $149.2 million (U.S.) in 2014 with the goal of
restarting the company under the Karma banner.
Intentions took a large step to fruition this summer when Wanxiang inked an 11-year lease on a factory in Moreno Valley, Calif.
Units rolling off the line there could reportedly be offered for sale as early as the middle of next year.
Exactly
what will follow in terms of product remains a debatable topic. Aside
from an updated Karma, analysts and industry watchers are wondering what
car will come next if its sales market returns.
Former co-owner
Fisker has previously stated Wanxiang employs upwards of 20 of the
brand’s original designers and owns several of his designs as a part of
the Chapter 11 purchase.
Norman Hebert, chief of Quebec’s Groupe
Park Avenue dealership group, was one of only four Canadian Fisker
retailers during its first run. He says that despite the passage of
time, demand remains surprisingly high for the models he characterizes
as timeless.
“I think we were the only dealer in Canada that
continued to service their customers. We were only in business about six
months and sold close to 30 vehicles,” he explains. “It seems sometimes
there isn’t a day that goes by that we don’t have customers looking for
used Fiskers. We are very excited to have that brand come back.”
The
market for expensive, alternatively powered cars has certainly grown in
the past few years. Tesla says it has pre-sold the first 15,000 units
of its new Model X while numerous hybrid and electric offerings are
beginning to flow forth from brands like Mercedes-Benz, Porsche, BMW,
Audi and Lexus.
While questions remain about how its retail
network will develop, becoming production ready and gaining
certification will have to be the first of many vital steps to any kind
of major comeback.
http://www.canadianautoworld.ca/article/101789/
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