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Fisker Karma  (Source: jalopnik.com)
It's waiting on troubled battery maker A123

Fisker Automotive has been waiting on its lithium-ion battery supplier in order to resume Karma production, and while there's no word yet on when that'll happen, Fisker predicts "fairly soon."

Fisker's battery maker for the plug-in Karma is A123 Systems, which filed for bankruptcy in October 2012. In December, the company was acquired by Chinese firm Wanxiang Group for about $260 million.

Fisker has been waiting on A123 to come out of this bankruptcy situation before restarting Karma production, but an exact date is unclear at this point.

Fisker has been having money issues of its own, though, and is currently looking for an investor. Some analysts say the company could be acquired.

Fisker
received $529 million in DOE loans in April 2010. The loans were part of a program to progress development of high-tech vehicles, where Fisker received $169 million for Karma plug-in engineering and $359 million for Nina production. The loans were also meant to revamp a closed General Motors plant in Wilmington, Delaware for Fisker EV production. 
 
However, Fisker fell a little behind on its production schedule, and in May 2011, DOE froze the loans due to "unmet milestones." Fisker had only drawn $193 million of it at that point.
In October 2012, the House Oversight and Government Reform Committee decided to look into the original terms of its loan to Fisker Automotive, questioning whether DOE will step in to help the electric vehicle (EV) automaker if it goes bankrupt and investors are allowed to retrieve their money.

On top of money issues, Fisker had a few recalls throughout 2012. In March, A123 said it would replace nearly 600 Karma batteries for $55 million when issues occurred. Later, in August, Fisker recalled 2,400 Karmas after a cooling fan issue led to a fire in California.

Source: The Detroit News



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Fisker Karma is a horrible car.
By foxalopex on 2/8/2013 2:26:56 PM , Rating: 2
I'm a supporter and enthusiastic about electric cars in general owning a Chevy Volt myself but out of all the cars out there (Volt, Leaf, Ford Focus Electric, Telsa, Prius Plugin), the Karma Fisker is a disaster of a car. See this review from an owner. I think the only conclusion he comes to is that it looks good. Everything else is a disaster:

http://www.youtube.com/watch?v=WnYuO0bGSTc

Heck even consumer reports's Karma Fisker broke down on them leading them to wonder about the quality of the product. If this product bites the dust, it would probably be better for the market.




RE: Fisker Karma is a horrible car.
By BZDTemp on 2/8/13, Rating: 0
RE: Fisker Karma is a horrible car.
By Flunk on 2/8/2013 6:07:09 PM , Rating: 3
I don`t think there are plenty of Karma owners. In fact the reason they're nearly bankrupt is that they have sold so few cars. Unlike Tesla they are just running off investment capital until it's gone. They have never made a profit. I wouldn't be surprised if they are not bought by a Chinese company so they can enter the US market.


By BZDTemp on 2/9/2013 12:10:59 PM , Rating: 3
Well it depends on your definition of "plenty" but Fisker has made and sold around 2,000 cars.

As for going bankrupt I'm not so sure but what has me wondering why it seems so many people hold a grudge against the company. To me Fisker is an exciting startup and while they have gotten a government loan that is no different than many other companies and it is not like they have behaved bad in any way. If anything people should be wishing for them to succeed, get the Delaware plant operational and really show the world what they can do.


RE: Fisker Karma is a horrible car.
By Reclaimer77 on 2/8/2013 8:09:40 PM , Rating: 2
Will you get a life? If an ICE startup company had this track record, you would be all over their ass. But because a car has batteries, you have to bat for them endlessly?

Your arguments aren't even good and your motives pretty transparent.

I don't care WHAT kind of vehicle Karma makes, the simple fact is they've been a failure. The product is just NOT GOOD, regardless of what it is.


RE: Fisker Karma is a horrible car.
By Shig on 2/9/2013 6:29:03 PM , Rating: 3
1) The Karma is a nice car.

2) The Karma is horribly overpriced for what you get.

3) Fisker is a poorly managed company.

4) Fisker is going to fail.

5) Just because Fisker is going to fail does not mean electric cars and/or plug-in electric cars are bad.

6) Yes this was a waste of government and taxpayer money. But when you analyze the overall DOE investment across the wide spectrum in which it was committed to, the program was successful overall. Sometimes your stock portfolio has trash in it, but that doesn't mean your investment strategy was poor overall.

7) As long as oil stays at 100$ a barrel, get used to electric cars.


RE: Fisker Karma is a horrible car.
By Reclaimer77 on 2/10/13, Rating: -1
RE: Fisker Karma is a horrible car.
By Rukkian on 2/11/2013 1:43:43 PM , Rating: 1
Where is your disqust for the people that get tax credits for other things? Why should people that buy houses get tax credits? Why should people get tax credits for donating to charity?

Those are 2 things indicative of the government picking "Winners and Loosers". Why do people that pay rent instead of owning their house have to fund other to buy a house?

It is not about twisting your words, it is pretty well known that anything that get implemented while Obama is President is the end of our country in your eyes, whereas the exact same thing (or something similar) under a different president or that benefits you is somehow fine.

I don't like obama (or any rep or dem) because their only goal is to get more power and keep what power they have. They do not want actual change. The difference is I see that both sides are corrupt, and can admit pros and cons to anybody.

The government has always picked "winners and losers", and to me, instead of just attacking one specific, lets get away from all tax credits across the board, and lower all taxes for everybody.


By retrospooty on 2/11/2013 3:09:04 PM , Rating: 1
"I don't like obama (or any rep or dem) because their only goal is to get more power and keep what power they have. They do not want actual change. The difference is I see that both sides are corrupt, and can admit pros and cons to anybody."

Exactly. So many people spend all their time on one side convinced they are in a fight with the other, when both are equally full of shit and both are robbing us blind.


By Reclaimer77 on 2/12/2013 5:21:58 PM , Rating: 2
Uhhh that's called a Red Herring. The topic is the Fisker car. This is not a topic about ALL tax credits. If I were to go on a rant about ALL tax credits, that would be off topic. You're even going so far as to assume I'm in favor of all other tax credits, simply because this topic comes up so much. It's not MY fault the DT writers come to this subject so many times is it?

So yes, your post is all about twisting my words. Stop projecting things on me, stop demanding I go off-context, and just debate the issue.


RE: Fisker Karma is a horrible car.
By Fisker49 on 2/10/2013 7:59:46 PM , Rating: 2
I own both a Volt and a Karma. By far the Karma has been the most reliable of the two. 13 trips to the dealer with the Volt in 18 months(4 of those on a flat bed tow truck)compared to zero breakdowns for the Karma. Both cars have had recalls. The Karma has been flawless after the version 510 software update last May. I have 11000 miles on the Karma and have filled it up 4 times with gas for a grand total of 36 gallons. The Volt is currently in the shop and we are hoping Chevrolet buys it back. I wish the Fisker Atlantic was out because there would be one in my driveway to replace the Volt. Fisker has awesome customer service and ownership has been a very positive experience. Don't believe all of the bad press. Ask an owner.


RE: Fisker Karma is a horrible car.
By Shig on 2/11/2013 12:38:14 AM , Rating: 2
This thread is not about the Chevy Volt sir.

@Reclaimer77 - You tend to lose credibility when you insult every single person on the site and constantly post biased rhetoric.


By TakinYourPoints on 2/11/2013 2:43:44 AM , Rating: 3
He's "Italian", don't you know?

I think he expects that to be as legit an excuse to be angry and insulting to everyone with a different opinion as letting a mentally handicapped person slide for not being able to pass the sixth grade.

That's just who he is, you see. Italian. Who are you to take away his rights to be an angry and unhappy person?


"I modded down, down, down, and the flames went higher." -- Sven Olsen














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