Fisker reports more than $100M in revenue Jan-Apr 2012; more than $1B in funding since 2007
29 May 2012
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| The EVer (Electric Vehicle extended range) powertrain of the Fisker Karma. Click to enlarge. |
Fisker Automotive published its first business update, announcing that revenues had exceeded $100 million in the first four months of 2012. The company, which began deliveries of the Fisker Karma luxury four-door extended range electric sedan in December 2011, also said that it has delivered 1,000 vehicles to customers in the US and Europe.
In the first few months of 2012, Fisker has continued to raise private equity investment to fund its expansion plans, securing $174 million of additional private financing since the start of the year. The latest funding has lifted the overall financing beyond $1 billion since the start of the company in 2007.
We are encouraged by solid demand for the Karma, our unique extended-range luxury model. Pending completion of investment sourcing, we are poised to press ahead with further market expansion and development of our higher volume model, the Fisker Atlantic.
—Tom LaSorda, CEO of Fisker Automotive
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| 2012 Fisker Karma. Click to enlarge. |
Fisker has also become the first manufacturer to launch vehicles under the Federal Government’s Advanced Technology Vehicle Manufacturing (ATVM) program.
Demand for the Karma has continued internationally. In the Netherlands, the Karma ranked second in volume to the Porsche Panamera in the segment for four-door luxury sedans (of all powertrain types) in the January-April, 2012 period.
Fisker is also expanding into new territories, including the Middle East. Earlier this month, Fisker signed an exclusive agreement with the Al-Futtaim Group, one of the Middle East’s most experienced automotive distributors, to build Fisker’s sales presence in fast-growing markets for performance and luxury cars. Al-Futtaim and its network of experienced retailers will allow Fisker to reach customers in the UAE, Saudi Arabia, Qatar, Oman, Bahrain, and Egypt.
Karma. The Karma features a 20 kWh rechargeable lithium-ion battery pack developed by A123 Systems, offering an ultra-wide State of Charge (SoC) operating window and providing a lifecycle of 10 years or 100,000 miles (160,000 km) under normal use.
Running on the battery alone, the Karma can cover 50 miles (80 km); after that, the range extender—a 2.0L, 260 hp turbocharged four-cylinder w/direct injection front/mid-mounted gasoline engine/generator set—provides another 250 miles of range by supplying supplemental power to the dual rear-mounted 201.5 hp (150 kW) liquid-cooled AC permanent magnet synchronous motors, for a total range of 300 miles (483 km).
The car allows the driver to manually select all-electric or hybrid-electric drive modes on demand. The default Stealth mode maximizes efficiency, giving the car its greatest range on battery power before activating the gas engine-driven generator to sustain battery charge. In Stealth mode, the Karma can accelerate from zero to 60 mph in 7.9 seconds and achieve a top speed of 95 mph (153 km/h).
With Sport mode engaged, the gasoline engine drives the generator to provide enough electricity for 403 total system horsepower, allowing the Karma to accelerate from zero to 60 mph in 5.9 seconds and achieve a top speed of 125 mph (201 km/h). Available peak torque is 981 lb-ft (N·m).
The Karma also features a fully-blended regenerative braking system. Using the right-hand steering wheel paddle, the driver can operate Hill Mode to vary regenerative braking effect in three steps; this function provides an effect similar to downshifting a conventional car’s transmission to offer varied levels of speed control. Hill Mode is ideal for downhill grades and can be used to shorten braking distances.
Atlantic. In April, Fisker unveiled its new model, the Atlantic sedan. The Fisker Atlantic design prototype is a luxury four-door sporting sedan that will use the second generation EVer (Electric Vehicle with extended range) technology. The standard powertrain will be configured for rear-wheel drive and an all-wheel drive version will be offered as an option.
Mitsubishi will produce a much lower cost new PHEV SUV with 2 e-motors. It will do 50 Km with the on board lithium battery and 800 Km combined with the small ICE. The average energy consumption will be 141 empg.
Posted by: HarveyD | 29 May 2012 at 07:54 AM
There's a lot to question about the Karma(weight, QA, ..),
but a 1000 units in ~4 months is a start and it's success could carry A123.
As I understand, A123 has a good America high tech battery, but really needs some profits.
Maybe it's 24M spin-off can 'pull out a rabbit' this summer.
Posted by: kelly | 29 May 2012 at 12:51 PM
All I know is that I see Karmas everywhere in my neighborhood, so it feels like everyone is starting to drive them. I suppose it could be the same guy over and over again, but I doubt it. It's a great looking car, sexy as hell, but it's too damn expensive for anyone other than the elite. The rest of us have to look at the Nissan Leaf, and who wants to do that?
Posted by: Thegoodhuman | 29 May 2012 at 03:20 PM
I got a LEAF for 14 months and love it.
Posted by: John McAvoy | 29 May 2012 at 04:13 PM
Those two cars are not in the same ball park. It is very difficult to compare a $32k EV with a $120K PHEV. A better comparison may be with the smaller Volt using a similar technology for 2 1/2 times less.
With a much higher price tag, this beautiful car is for people with $$$$ or the 3%.
Posted by: HarveyD | 30 May 2012 at 07:08 AM
Harvey, while you are right - what GCC might celebrate is the fact there ARE two diverse categories of EV available today. Both drivers appear to love their cars.
No better incentive or advertising for electrification than positive word of mouth! Congrats to Fisker - never thought they'd get this far. It IS a beautiful looking ride.
Posted by: Reel$$ | 30 May 2012 at 10:07 AM
Kelly...A123 may have more than $$$ problems. Their local manufacturing facilities seem to have unsolved quality problems to be addressed at a very high cost soon.
Do their Asian manufacturing facilities also have similar quality problems?
Posted by: HarveyD | 31 May 2012 at 09:25 AM
I thought it was a single tab welding machine that was not properly calibrated. It was an expensive mistake, but a simple fix.
Posted by: JRP3 | 01 June 2012 at 06:11 PM