Fisker Teams With Quantum For Karma Relaunch – Deal Covers Upcoming Fisker Atlantic Too

NOV 4 2014 BY ERIC LOVEDAY 12

Fisker Karma Relaunch Now One Ste Closer To Reality

Fisker Karma Relaunch Now One Ste Closer To Reality

Fisker Karma

Fisker Karma

Quantum Technologies is back on board to support the relaunch of the Fisker Karma:

“Quantum Technologies Enters into License Agreement with Fisker Automotive and Technologies Group LLC to provide Plug-In Hybrid Control Software to Support Re-Launch of the Fisker Karma Vehicle – Control Software Agreement to provide Quantum with more than $5.0 million over the coming year.”

So, Karma is inching closer to once again being a production plug-in vehicle, but the BIG news in the press release put out by Quantum Technologies is that the Fisker Atlantic now seems to be back on the table:

“Control software license to cover Fisker Karma and Atlantic series with option for joint-ownership for these and other future platforms.”

The Fisker Atlantic was originally set to be released in mid-2014.  Check out this exclusive InsideEVs post for all the details on Atlantic.

Full press release below:

LAKE FOREST, Calif., Nov. 3, 2014 /PRNewswire/ — Quantum Fuel Systems Technologies Worldwide, Inc. (“Quantum”) (NASDAQ: QTWW), a global leader in natural gas storage systems, integration, and vehicle system technologies, today announced it has entered into an agreement with Fisker Automotive and Technologies Group LLC (“Fisker Auto Group”) pursuant to which Quantum will license its plug-in hybrid control software to Fisker Auto Group and, in return, will receive an initial payment of $2.0 million on or before November 27, 2014, and a second payment of $2.0 million on or before October 27, 2015. Under these terms, the software license provided to Fisker Auto Group will support Fisker Auto Group’s re-launch of the Karma vehicle and, upon Quantum’s receipt of the second $2.0 million installment, the license granted to Fisker Auto Group will be expanded to include use on Fisker Auto Group’s planned Atlantic vehicle line. The agreement also gives Fisker Auto Group the option to acquire joint-ownership of the hybrid control software for the Karma, Atlantic and future platforms for additional consideration on or before October 27, 2016.

In addition, the agreement provides that Quantum will be Fisker Auto Group’s exclusive software development partner until at least such time that Fisker Auto Group exercises its option to acquire joint-ownership of the hybrid control software, including two specific agreed upon projects that comprise approximately $1.35 million of software development services to be provided to Fisker Auto Group over the next twelve months.

“We are very excited to be supporting Fisker Auto Group with the re-launch of the Fisker Karma vehicle and its planned Atlantic series,” said Brian Olson, Quantum’s President and Chief Executive Officer. Mr. Olson continued, “Our software and vehicle control products and strong software development engineering capability is another example of why Quantum is the perfect one-stop-shop for OEMs that desire a fast-to-market solution for clean vehicle technology and product commercialization.”

“Fisker Automotive and Technologies Group, LLC is excited about the partnership with Quantum. This arrangement allows us to improve the Karma and re-launch with added improvements and still fulfills our core objective for Fisker Automotive and Technologies, LLC to own the core intellectual components of the car. Fisker Automotive and Technologies Group, LLC is excited to work on the next phase of the partnership with Quantum,” said James Taylor, V.P. of Manufacturing and Purchasing.

About Quantum: Quantum Fuel Systems Technologies Worldwide, Inc. is a leader in the innovation, development, and production of natural gas fuel storage systems and the integration of vehicle system technologies including engine and vehicle control systems and drivetrains. Quantum produces one of the most innovative, advanced, and lightweight compressed natural gas storage tanks in the world and supplies these tanks, in addition to fully‐integrated natural gas storage systems, to truck and automotive OEMs and aftermarket and OEM truck integrators. Quantum provides low emission and fast‐to‐market solutions to support the integration and production of natural gas fuel and storage systems, hybrid, fuel cell, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum is headquartered in Lake Forest, California and has operations and affiliations in the United States, Canada, and India.

Forward Looking Statements: This press release contains forward looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements included in this report, other than those that are historical, are forward looking statements and can generally be identified by words such as “may,” “could,” “will,” “should,” “assume,” “expect,” “anticipate,” “plan,” “intend,” “believe,” “predict,” “estimate,” “forecast,” “outlook,” “potential,” or “continue,” or the negative of these terms, and other comparable terminology. Examples of forward looking statements contained in this release include whether Fisker Auto Group will be able to successfully re-launch the Fisker Karma vehicle, whether it elects to exercise its option to acquire joint-ownership of the control software and whether it decides to take its Atlantic vehicle to production. Various risks and other factors could cause actual results, and actual events that occur, to differ materially from those contemplated by the forward looking statements. Quantum undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events.

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12 Comments on "Fisker Teams With Quantum For Karma Relaunch – Deal Covers Upcoming Fisker Atlantic Too"

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Must do better…. less weight, bigger batt and try to forget that the P85D, the P85 or just a regular MS 60Kwh for that matter, exist – I can’t see this happening, at all…. ever

Some people could see the Karma as a more luxury car for 100,000 dollars. all the design elements of the inside that I could see in the reviews and such seemed to indicate to me that the Karma looked more like a 100,000 dollar car.

Basically, some people buy on looks

It will be hard to convince costumers to buy a car with that “Karma”

A couple of years ago the Karma started at $103k before going bankrupt.

Model S P85D starts $105k.

The whole selling point of Fisker was that it was easy to refuel while it was hard to find superchargers.

Is Fisker’s target markets in the US going to be Michigan,Iowa,and Arkansas?

Not at those prices. Looks towards the coasts.

I hope if the Fisker comes back they should at least give it a 100 mile battery only range before the dino juice powered engine kicks in. In that the 20 mile range is a joke for a $100,000 plus car.

IF memory serves, the original Fisker had more all electric range than the Chevy VOlt did at the time.

Not according to EPA numbers. Their original estimates were grossly overstated unfortunately.

I want to see this car on the road again

It says “Atlantic series”. That’s interesting. To me that implies multiple models based upon the Atlantic chassis, not just one model named the Atlantic.

I for one welcome another company who is building plug-in vehicles as their sole focus, with full intention on making them work. Unlike some companies who are building compliance cars, while whining to the press about how much EV’s suck. (Yea, I’m talking about you, Toyota and Fiat/Chrysler).

Hopefully we do get multiple models based off a single chassis. And with luck, one of them will be all electric.

I can’t get over the irony of Fisker naming their failed attempt “Karma”, after blatantly attempting to steal the design from Tesla… Ain’t that a bi*ch! This is the only EV that I encourage to fail… All style and no substance. History won’t miss it.