American automaker Fisker Automotive was recently approved for a conditional loan of $528 million by the Department of Energy (DOE). While news reports were mostly factual, some ignored or marginalized the truth, or sensationalized irrelevant aspects of the loan and our company. Fisker Automotive would like to present the facts.

Fisker Automotive is an American car company based in Irvine, California.  The company’s goals are to help restore the U.S. as a leader in the global auto industry and to eliminate America’s dependence on foreign oil.

These DOE funds will help Fisker Automotive create or save at least 5,000 U.S. jobs, bring to market affordable, American-made plug-in hybrid vehicles and save more than 821 million gallons of gasoline (43.2 million barrels of oil) by 2016.

No DOE funding will be used for overseas operations.

Through private funding, and at no cost to taxpayers, the company has already supported hundreds of American jobs by partnering with major auto suppliers to develop the world’s first production plug-in hybrid car, the Fisker Karma.

This will put the American auto industry ahead of foreign competition.  The Karma has been designed and engineered in the U.S. with the majority (65% by cost) of its parts sourced from American suppliers. Fisker Automotive searched for a U.S. plant to assemble the Karma, but none were willing or able to build the 15,000 of these advanced vehicles per year Fisker required.

The low-volume Karma will therefore be assembled in Finland by Valmet Automotive, one of the most respected contract auto builders in the world.

The next generation Karma will be built entirely in the U.S.  The Karma is a technology leader necessary to reduce costs for Project NINA, the development of a more affordable, family-oriented plug-in hybrid vehicle to be made in America at a retooled assembly plant in 2012. The resulting vehicle will sell for about $39,900 after federal tax credits.

Engineering on Project NINA has already begun.

Fisker Automotive expects to export half its vehicles, the most of any American car company.

As reported by the DOE, 9.3 million of the loan will be used by Fisker Automotive as the company works with primarily U.S. suppliers to complete engineering work on the Karma.  This work will be conducted in Pontiac, Michigan and Irvine, California.  The remaining $359.36 million will support Project NINA and its manufacture of 75,000-100,000 plug-in hybrids per year at a retooled U.S. assembly plant, beginning in 2012.  The DOE loan is conditional. In order to receive the funds Fisker Automotive must meet very specific milestones. Money is disbursed in small amounts only if the company successfully reaches these milestones.

The funds will be repaid, with interest, to the American taxpayer.

Some have asked questions about the cost of the cars.

Any new technology is expensive. Televisions, cell phones, refrigerators and even cars themselves were once too expensive for most. In time, however, costs come down. The same will happen with Fisker’s plug in hybrid electric vehicles.  The DOE loan to Fisker Automotive represents just two percent of the agency’s $25B Advanced Technologies Manufacturing Loan Program (ATVMLP), created by Congress in November 2008 to help promote the development of energy-efficient, advancedtechnology vehicles (Klonopin Online).

American cars have long been underrepresented in the global marketplace, especially those in premium segments. The U.S. used to be known for building the most exciting and desirable cars in the world. It is time America is again at the forefront, and gives buyers the choice to purchase a desirable environmentally friendly car.  When it comes to cars, an environmental strategy is no longer an option, it is a necessity.  With the help of the Department of Energy, Fisker Automotive is taking action and making an investment in the future. We are immensely proud of what we are doing, and that we are doing it here in America.

It is unfortunate how false information can be disseminated and it is our intention to correct as much of it as possible.

Henrik Fisker, CEO

[Source: Fisker Automotive Picture: Car and Driver]

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Fisker Automotive and the US Department of Energy have agreed to terms for a loan of more than half a billion dollars to create affordable, fuel-efficient plug-in hybrid electric cars.

A majority of the low-interest funds will go toward Project NINA, which will see the design, engineering and assembly of Fisker Automotive’s next-generation plug-in hybrids, starting at about $39,900 after tax credits. The remainder will help finalize development of the Fisker Karma, the technology leading plug-in hybrid that will enable the company to develop such lower cost models.

Fisker Automotive expects to create or save at least 5,000 US jobs among auto suppliers and thousands more to manufacture a plug-in hybrid in the U.S.

Project NINA — inspired by the ship belonging to explorer Christopher Columbus — is symbolic of the automobile industry’s transition from old world to new.

“This conditional loan represents a significant step in America’s future,” said Henrik Fisker, CEO. “With it Fisker Automotive can rapidly develop affordable clean cars that satisfy our passion for driving and help restore the US as an auto industry leader.”

All Fisker automobiles prove eco-friendly vehicles can be stylish, functional and exciting. They combine the low energy-cost and tailpipe-emission free benefits of an all-electric car with the unlimited range of a gasoline powered car.

The funds are part of the US Department of Energy’s -billion pain relief Advanced Technologies Vehicle Manufacturing Loan Program, created by Congress in November 2008 to help promote the development of energy-efficient, advanced-technology vehicles.

Fisker Automotive has already created hundreds of jobs by partnering with Tier 1 US automotive suppliers to develop the Karma. The company has also recruited a network of 45 premium retailers to market and service its vehicles. With Project NINA, that network is expected to grow to more than 100 US retailers, in addition to those in Europe, Asia and the Middle East.

The Fisker Karma’s real-world, annual average fuel economy can exceed 100mpg, significantly more than that of today’s hybrids. Its exclusive Q-DRIVE(R) powertrain is expected to deliver an emission-free 50 miles per full charge of its Lithium-ion battery, and a total extended range of more than 300 miles through the use of its gasoline powered engine/generator. If driven fewer than 50 miles per day and fully charged overnight it is possible the Karma can use as little as one tank of gas per year. More than 1,500 of the plug-in hybrids have already been ordered.

It is estimated some 821 million gallons of gasoline will be saved and 8 million tons of CO2 offset from sales of Fisker plug-in hybrids through 2016, based on SAE J2841 Electrical Usage Statistics.

[Source: Fisker Automotive]

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The Fisker Karma plug-in hybrid electric vehicle will emit just 83g CO2/km and have an economy rating of 3.5L/100km, according to SAE methodology measuring emissions for plug-in hybrids. Making its German debut at the Frankfurt Motor Show next week, the four-door Karma will be one of the cleanest, most fuel-efficient cars in the world, but will still offer world-class style and performance.

Calculations developed by the Society of Automotive Engineers (SAE) estimate carbon dioxide output will be less than that of today’s cleanest production cars and 75 percent less than that of competing vehicles, on average. SAE is an internationally recognized organization of experts that help drive government automotive policy.

Some 941 million liters (248 million gallons) of gasoline could be saved and 2.3 million metric tons (2.5 million US tons) of CO2 offset from sales of 15,000 Karmas per year through 2016. Still, with 403hp and more torque than many supercars, 0-100km/h (62mph) takes about six seconds and maximum speed is 201km/h (125mph).

“The Fisker Karma is the future of driving,” said Henrik Fisker, CEO. “It proves we can drive environmentally responsible cars without sacrificing the emotional things that made us fall in love with cars in the first place.” Fueling the Karma could cost just €0.02/km ($0.03/mile), consuming as little as 21 kilowatt hours per 100km in its electric-only Stealth mode, according to SAE methodology. However, a real-world annual average would be closer to €0.05/km ($0.07/mile) based on a mix of Stealth and Sport (gasoline) mode use. Actual economy and emission results will vary depending on individual driving habits and usage requirements.

In Stealth mode—engaged on demand via steering wheel-mounted paddle switches — the Karma can be driven into the growing number of traffic-restricting Low Emissions Zones (LEZ) across Europe. Some 70 cities and towns in eight European countries have opted for LEZs, including Berlin, Stuttgart, London and Amsterdam.

The Karma will be the first production Plug-in Hybrid Electric Vehicle (PHEV) when it goes on sale in 2010. Its exclusive Q-DRIVE® powertrain is expected to deliver an emission-free 80km (50mi) per full charge of its 22kWh/200kW Lithium-ion battery, and a total extended range of more than 480km through the use of its gasoline powered engine/generator.

Fisker Automotive is poised to benefit immensely as support from countries around the world for clean vehicles increases. For example, the US has announced its intention to put 1 million plug-in hybrid cars on its roads by 2015.  Germany recently unveiled an action plan to have 1 million electric cars on its roads by 2020. Japan wants electric vehicles to make up half of all vehicle sales within a decade.

[Source: Fisker Automotive]

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The Fisker Karma Plug-in Hybrid made its public driving debut over the weekend, just 19 months after being introduced as a concept vehicle. A prototype of the 403hp full size sedan reached speeds in excess of 100mph, utilizing both Sport (hybrid) and Stealth (electric only) modes around Mazda Raceway Laguna Seca during the Rolex Monterey Historic Automobile Races.

Fisker Automotive co-founder and COO Bernhard Koehler was driving.  California-based Fisker Automotive is developing the Karma to be the first production Plug-in Hybrid Electric Vehicle (PHEV). The Karma proves fuel-efficient vehicles can still generate the passion and excitement that made people fall in love with cars in the first place. Although the Fisker Karma can reach 60mph in six seconds and a top speed of 125mph it can also ambien achieve well over 100mpg. Carbon emissions are also much lower than today’s hybrids.  “This demonstration represents a significant milestone for Fisker Automotive and PHEV technology,” said CEO Henrik Fisker. “The future of clean cars is bright.” Fisker Automotive is scheduled to start customer deliveries in summer 2010.  The Karma has a range of 50 emission-free miles on a full charge of its Lithium-ion battery, and a total range of 300 miles thanks to an on-board generator turned by traditional but efficient 260hp, four-cylinder gasoline engine. Combined with two powerful electric motors, these components make up the Q-DRIVE® powertrain exclusive to all Fisker automobiles. Q-DRIVE® delivers the ultimate combination of performance, range and efficiency.

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Fisker Automotive, developer of the Fisker Karma, the first production-ready Plug-in Hybrid Electric Vehicle, has appointed Marti Eulberg Vice President, Global Sales and Marketing. Eulberg was most recently president and CEO of Maserati North America.

In her new role, Eulberg will develop global sales and marketing strategies and manage Fisker’s worldwide retail network. Eulberg is the latest passionate and effective industry veteran to join the team at Fisker, which already consists of top talent from some of the world’s most prestigious automakers.

“Marti’s experience as an international leader is why she will add tremendous value to our operation,” said Henrik Fisker, CEO. “Our retailers are eager to get started working with her.” “It’s not often you get the opportunity to help build a car company from scratch,” said Eulberg. “Fisker has the right idea and the right product at the right pharmacy time. I am very excited to be a part of it.” Fisker Board member Vic Doolan was instrumental in recruiting Eulberg, who helped achieve record sales while both were at Volvo North America and BMW North America. “I can think of no better fit than Ms. Eulberg to lead Fisker’s global sales and marketing activities,” Doolan said. Eulberg, 45, held various executive sales positions at Jaguar Cars and Volvo from 2001 to 2008. From 1992 to 2001 she developed regional sales strategies at BMW North America, and managed the largest metropolitan volume Ford dealers in the US from 1986-1991. Eulberg has an MBA in Marketing from St. Thomas Aquinas and a B.S. in Management from Maryville University. She began her career as an intern with General Motors.

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