• Dec 15th 2010 at 4:57PM
  • 21
Green Car Reports has received confirmation from Fisker Automotive that they will not be participating at the 2011 Detroit Auto Show despite the supposed spring arrival of the Karma luxury plug-in hybrid in the United States. The company's next scheduled appearance will be at the Geneva Motor Show in March. According to company spokesman Russell Datz, Fisker skipping out on Detroit should not necessarily be perceived as a sign of trouble or more delays. He said production is still "scheduled for March." Also, as regular readers may recall, production of the solar roofs Quantum and Asola are producing for the Karma are due to begin early next year and a $30 million purchase order for key components for the vehicle's Q-Drive powertrain was also received by Quantum this past September.

There have been doubts raised about the start-up luxury brand's plans, but Fisker seems to be blessed with tons of luck so far. The company was born from a chance meeting by the wives of Henrik Fisker and Quantum Fuel Systems Technologies Worldwide Inc. CEO Alan Niedzwiecki at a Land Rover dealership outside Los Angeles. The two company heads got to talking, started a partnership and the recession that heavily affected the auto industry turned out to be a good thing for Fisker. With GM going into bankruptcy, Fisker was able to snatch up its Wilmington factory for a bargain – just $20 million. Add to that $528 million in low-interest loans from the U.S. Department of Energy and several hundred million more in private funds. The only thing that's missing is actually putting cars on the road and in people's driveways.

[Source: Green Car Reports, Autonews]


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  • 21 Comments
      • 4 Years Ago

      There sure is a lot of comments based on negative 'emotion' on QTWW.
      If you really dug deep into this company and its relation ship with Fisker auto
      to Open your eyes to a Great investment opportunity. Notable Information as follows'

      (1) Unbeknown to many Is that That Fiskar is 1/2 owned by Quantum as part of
      The R&D proposal for quantum to share there Q -DriveTechnology which was Funded by military grants/contracts for a proposed Hummer replacement since Gm has dropped the Humvee. Also Note that the Diesel equivalent called the Q-Force which is in the QTWW 'Aggressor' (proposed hummer replacement ) IS the only Such vehicle of its kind that is Certified to be transported in the Hercules planes and cargo helicopters. Yes there are 4 other companies that are competing this contract but doesn't that show some advantage such as the military has spent time with them doing this testing.

      (2) If GM is any indication about the governments ability to collect Loans back whilst
      making a tidy profit, i would think that they have made a wise investment in Fiskar
      with a $525 mil loan. Buying a Gm plant $20mil during a bankruptcy process for next to nothing is what i call SMART.I think that leaves another $500 mil for retro fits and business expenses etc...For Obvious reasons there is No diluting stock offerings on the horizon.

      (3) QTWW has been massacred by the 'markets' mostly due to the Hype speculation
      of the Fiskar car itself and its delay in getting to the market. This was partly due Tesla's Design lawsuit against Fiskar( who helped design the Tesla) in which Tesla LOST and later but more importantly the inability for the battery supplier 'to meet the requirements needed for fiskar to launch a successful and reliable product,
      as premature launching would be catastrophic. It so happens that this year they changed battery suppliers to systems123 batteries,Who if you remember was the official battery supplier for the Chevy volt until they were dropped for LGchem lower cost product. (Chevy volts target market price is $30,000 Not $70,00 after rebates for a Fiskar luxury car) So it seems they have the battery problem solved in both cases.

      FYI Also note that an electric battery of size can get very hot all buy its itself . Ad some climate heat whilst parked in an Arizona shopping mall for 2 hours and you have a logistical problem. I would presume batteries of such scale on the highways has to pass certain DOT safety requirement. The fiskar has a roof top solar panel. Not only does this panel provide enough power to sustainably keep the interior at a nice comfortable temperature while your on the golf course all day..... Its main design is to keep the battery cool to maintain charge rate reliability and safety.

      (4) Yes there is a lot of electric vehicles wanting to go on market. As an investor you Need to look at great ideas but also look at How much Money is it going to take to start up and bring the product to the market and Who is going to provide the money?
      Fiskar is a "Coach build" ...that means all/most mechanical parts including those that require DOT ( department of transportation) design, manufacturing and testing come from other manufactures such as GM etc....who spent all the money required to do that already, So there start up costs end up being a small fraction of there competitors.

      (5) The Fiskar was on a road tour across most of north america last summer.
      It even came to the BMW Store here in Vancouver Canada. Anyone see a Chevy
      volt driving around yet? This is a Green Luxury car. Its competitor is Tesla. I would not be able to fit 2 friends or a family in that car. Plus i think it looks like one of those Fierro/Ferrari replica cars from the late 80's. Luxury cars sell to people who have money who like to have the greatest and latest possessions all doing so while making a Green Statement. Tesla hasn't made plans fore mass production have they? what is their stock worth?

      (6) The Fiskar Karma and Sunset are just Nice cars, Just like the Aston Martin DB7 that Fiskar designed. Its practical for a green car and may be the Pinnacle in the descion making for consumers to make the switch. It may also become a benchmark
      for industry design in Green automotive. I know i wouldn't buy a Chevy volt no matter what the cost. Oh.... i imagine what the Fiskar "Nina" now in R&D and slated for the $50 k market will be equally as nice. Just like Arnold the Terminator buying a GM HUMVEE
      that set the popularity intro orbit it will take just one celebrity who cares about the environment like Leonardo DiCaprio to start driving one of these beauties around
      to make them a hot Commodity...

      Oh ..lets not forget about QTWW other operations and contracts Like Lockheed Martin
      and NASA.

      No point in asking if i am
      • 4 Years Ago
      yeah I wouldn't read too much into it. too many contracts and too much money for it to be vaporware.
      they've also showed a quite sophisticated looking alu chassis and of course their prototype cars. there might be problems but I haven't seen indications of problems. I expect the car to be sold, whether the company will be profitable is another matter.
      • 4 Years Ago
      "The company was born from a chance meeting by the wives of Henrik Fisker and Quantum Fuel Systems Technologies Worldwide Inc. CEO Alan Niedzwiecki at a Land Rover dealership outside Los Angeles."

      I thought Fisker stole the idea from Tesla while he was working there.
        • 4 Years Ago
        Tesla had to pay Fisker a pretty good chunk of change for filing that frivolous lawsuit: $1.1 million.


        "Tesla made inquiry of Fisker and others in July 2007, concerning Fisker's plans. Tesla satisfied itself to the lack of any viable conflict before entering into a second agreement with Fisker. Nothing was contained in the second agreement which referred to Fisker's development of a PHEV and placing any restrictions thereon."

        "There is no evidence that Tesla had any PHEV technology before Fisker and Quantum started their joint venture, let alone that Tesla shared it with Fisker."

        "Tesla's assertions of violations of the Uniform Trade Secrets Act by Fisker were baseless and neither brought nor pursued in good faith."

        http://www.newmeyeranddillion.com/pdf/Tesla_v._Fisker_Corrected_Final_Award_.PDF

        Musk knew that Fisker was starting up a manufacturer with Quantum - but Musk refused to believe that Fisker would even get off the ground. Musk even signed new contacts for work after he was aware of Fisker's new car company. When Fisker did indeed look to be viable, Musk retaliated vengefully.
        • 4 Years Ago
        Just the styling... which is a bit of an odd claim since he was working for Tesla as a vehicle (style) designer. So this design of his looks similar to that design of his.
      • 4 Years Ago
      What do you think the odds are that the taxpayer will ever get that 528 million back? ....

      Fisker spends portion of the $ on building and equipment but most disappears into "development costs", kicks out a few hundred cars at prices much higher than expected, probably has some safety and recall issues, volume sales never materialize, Fisker blames a tough economy and problems with suppliers, applies for more government loans, gets denied, company goes bankrupt, CEO and a few others make off with tens of millions and move onto their next scam.
        • 4 Years Ago
        A lot better than the chance of us getting our money back on the Iraq war.
        • 4 Years Ago
        This is the biggest fraud perpetrated on the unsuspecting public. It's a pie-in-the-sky or vaporware. You will never see a production car from Frisker. These guys are just sucking government and private investor dry --- then declare bankruptcy.
      • 4 Years Ago
      NAIAS - the name says it all.
      North American International Auto Show.

      All the other shows in the US are more regional and more for convincing local car buyers to hit their dealers.
      Sure New York and Los Angeles are biggies, but not international in scope like Detroit, and not in the capital of automotive production, headquarters, and suppliers.
      An example: automotive press and excutives from around the world don't fly into LA and NYC to attend their shows, nearly to the degree of Detroit.
      Detroit is THE North American Auto Show.

      OK, so in Frisker's case, at this point going to the show is to sell cars. I'll admit, Detroit and vicinity is not his market.

      I'd guess Frisker is getting a better response in Europe for his English looking car built in Finland - than he is in the US.

      Who needs the US? Oh, I forgot about the half a $Billion, and big hat investors from Texas. Maybe the US has dried-up, and he's having more luck finding deep pocket Europeans to invest.

      But, what do we really care? Raise your hand if you're waiting for your Frisker.
      • 4 Years Ago
      "Detroit doesn't really mean anything"

      Cars built in Finland. Shows in Paris and Geneva.
      Does Frisker sees themselves as a European car company ?
      Maybe they'd be better off applying for loans from the EU and return to there..
        • 4 Years Ago
        I said, "Skipping Detroit (in January) doesn't really mean anything, except that perhaps Fisker doesn't see it as a vital marketing opportunity."

        What benefit do you think there is in Fisker attending the Detroit show? Go on, please make your case as to why Fisker *should* attend the NAIAS.

      • 4 Years Ago
      Not going to Detroit? They've got something to hide.
      When they loan a car to Car & Driver or Road & Track, I'll believe they'll be selling cars in three months.

      So far, has anyone even seen one on a street ? Like in testing.
      • 4 Years Ago
      It has been funny to watch Fisker turn into yet another GreenVehicles/Aptera/Wheego/etc.

      They promised so much and so fast. And with the name Fisker and a fair amount of outsourced work (such as the Q-systems drivetrain), it looked like they might pull it off.

      But they've struggled like everyone.
      • 4 Years Ago
      I saw the Fisker Karma at the LA Auto Show last month. Beautiful car. They had a small roped off area and no staff or displays. They must have borrowed the large area for the video. I think this says more about the loss of prestige of the Detroit auto show and the cost to vendors of putting it on. Saab, Hummer, Infiniti, Suzuki, and Porsche also skipped the show. It is a recession after all.

      http://www.youtube.com/watch?v=Flqv_q1IiI0
        • 4 Years Ago
        Exactly. Fisker was in Paris, and they'll be in Geneva in the Spring. Skipping Detroit (in January) doesn't really mean anything, except that perhaps Fisker doesn't see it as a vital marketing opportunity.
        • 4 Years Ago
        The only name on that list worth mentioning is Porsche. And I'm not even sure how you came up with Saab and Hummer considering the "state" they're in.

        I don't think it has anything to do with prestige at this point. Other companies actually came BACK to Detroit this year. Fisker has more than the Detroit show to worry about, like actually being able to make cars...
      • 4 Years Ago
      "wives of Henrik Fisker"? Polygamous, or just the exes getting together? And why were they meeting CEO Alan Niedzwiecki?

      Oh, I see, it was the wife of Henrik Fisker and the wife of CEO Alan Niedzwiecki that met, talked, hatched an idea and got their spouses to work together on the project. Now we know who really is the "power behind the throne" in this company!
      • 4 Years Ago
      I hate to admit it, but that ticking sound is my rising skepticism about this company.
      BTW, to answer the question about whether we will ever see that 528 million back, sure. We'll just skim it off the interest the taxpayers have made off of GM. Every day the auto bailouts look wiser and wiser.
      • 4 Years Ago
      Automakers are under no requirement to participate in auto shows. They didn't show last year in Detroit either.

      Chrysler just skipped the Paris Show, and Nissan skipped the 2009 Detroit show...
        • 4 Years Ago
        You can't compare 2009 to 2010. Apple and oranges. As for Fisker, well small dogs bark the loudest, don't they?
        • 4 Years Ago
        "You can't compare 2009 to 2010."

        Why not? All I'm saying is that they did it before. They're hitting the big glitzy shows in Europe instead.

        I've heard that Fisker is already close to maxed out for their US production, with around 3500 orders in hand. Their US Dealer tour was a huge success, with many new orders written.

        They've said all along they want half of their business to come from Europe, so it makes sense to slow down marketing here and focus over there...

        (Not to mention the orders from Asia and the Middle East)

        I see that some are trying to spin this as some indication of trouble for Fisker, but I disagree. Their finances are good, their suppliers are making deliveries, and their assembler is quite capable.
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