The Fisker Karma will make an appearance in Washington, D.C. this week for that city's auto show. While there, the car is up for a starring role in the Green Car Journal's 2009 Green Car Vision Award. We won't know until later in the week (tomorrow, actually) which actor vehicle lands the lead, but it'll either be the Karma or one of these other finalists: Mitsubishi iMiEV, the Honda FCX Clarity, Chevy Volt, and MINI E. Green Car Journal editor and publisher Ron Cogan says that these five vehicles, "each inspire in important ways with their advanced powertrains, use of cleaner or more sustainable fuels, vastly improved efficiencies, or a combination of these attributes." OK, fine, but which one do you think will win the award?
[Source: Quantum Fuel Systems Technologies Worldwide, Inc.]
Quantum's Affiliate Fisker Karma Selected as a Finalist for Green Car Journal's 2009 Green Car Vision Award; Karma to Be Showcased in Washington, DC
IRVINE, Calif., Jan. 30 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (NASDAQ:QTWW) co-founded Fisker automotive and designed and engineered its proprietary Q-Drive. After capturing the spotlight and unprecedented media attention at the North American International Auto Show in Detroit, the Fisker Karma sports sedan is now on its way to the nation's capital. The Washington D.C. Auto Show will be held in the Walter E. Washington Convention Center this February 4th-8th. Green Car Journal has selected the luxury plug-in hybrid Fisker Karma, incorporating Quantum's proprietary Q-Drive as a finalist for its renowned Green Car Vision Award, which celebrates most promising cars for the future.
"Vehicles offering dramatically improved environmental performance are crucial to helping us move beyond today's challenges of oil dependence and growing environmental impacts," said Ron Cogan, editor and publisher of the Green Car Journal and editor of GreenCar.com (http://www.greencar.com/). "While not yet widely available in new car showrooms, these vehicles each inspire in important ways with their advanced powertrains, use of cleaner or more sustainable fuels, vastly improved efficiencies, or a combination of these attributes. The five nominees for Green Car Journal's 2009 Green Car Vision Award(TM) are exceptional examples of innovation at work."
Quantum designed and engineered its proprietary Q-Drive high-performance plug-in-hybrid electric vehicle (PHEV) architecture exclusively for the Karma. The Q-Drive plug-in hybrid electric drive system is designed to achieve 50 miles of zero emission, battery-only range while providing combined gasoline-electric hybrid operation to enable uncompromised vehicle range and performance. With a balance of electric and gasoline range, Fisker Automotive estimates that most Karma drivers who charge the Karma overnight and commute less than 60 miles (96 km) per day will be able to achieve an average fuel economy of 120 mpg (1.97 L/100 km) or better.
For more information on the Washington Auto Show visit www.washingtonautoshow.com or www.greencar.com.
Quantum Fuel Systems Technologies Worldwide, Inc. (NasdaqGM: QTWW), a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
More information can be found about Quantum's products and services at http://www.qtww.com/
Quantum is a member of the Russell 2000(R) and Russell 3000(R) indexes.
Fisker Automotive is a privately owned luxury premium hybrid car company co-founded by Quantum Technologies and Fisker Coachbuild LLC, with Henrik Fisker as the CEO. The company has backing from Kleiner Perkins Caufield & Byers, Palo Alto Investors and Qatar Investment Authority.
More information can be found online at www.fiskerautomotive.com.
Statements in this document regarding future financial and operating results, future growth in customers and development programs, the development and commercialization of hybrid vehicles, hybrid vehicle specifications, new or expanded customer contracts, the commitment of suppliers and other entities to the Karma vehicle program, future opportunities for Quantum, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, engineering and material costs, development costs, other general costs and expenses; other new model platforms; the ability to retain key personnel; the Company's ability to successfully execute its business strategies; growth of the hybrid vehicle market; the levels of commitment by OEMs, governments and other entities to the commercialization of hybrid and alternative fuel technologies; our dependence on a concentrated number of customers for a substantial majority of our revenues; the timing of product cycles for our OEM customers; delays in the development of a commercial market for our products; our reliance on a limited number of suppliers for raw materials used in our products; shortages of raw materials; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2008 and in the other documents filed by Quantum with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, opinions, and expectations of the Company's management as of the date of this press release, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.