Wanxiang To Build $375 Million EV Plant In China, Will Produce Both Atlantic And Karma

AUG 8 2016 BY MARK KANE 12

Karma Revero prototype

Karma Revero prototype

According to Bloomberg, the Wanxiang Group intends to build an electric car plant in Hangzhou, China.

Production will consist mostly of original Fisker designs, the Karma and the Atlantic (which never quite made it to production in the US once the Department of Energy pulled Fisker’s loans).

Capacity of the 2.5 billion yuan ($375 million) plant is to be 50,000 cars annually.

Disclosed as part of the application, Wanxiang plans to build ~39,000 of the less expensive, extended range Atlantic model out of the 50k total.

The Atlantic is estimated to have a 0-100 km/h (62 mph) time of about 6.5 seconds, and a top speed of 216 kph/135 mph – at less than half the cost of the Karma/Revero.

Henrik Fisker And His Former Company's Atlantic - Which Was Mothballed When DoE Funding Was Cut Off

Henrik Fisker And His Former Company’s Atlantic – Which Was Mothballed When DoE Funding Was Cut Off

Wanxiang is one of the largest automotive parts suppliers is the world, but is best known in ‘EV circles’ as the company which acquired several years ago acquire battery company A123 Systems and bought out the assets of a, very bankrupt, Fisker Automotive (now Karma Automotive) in the U.S.

“Karma has restarted with financial backing from Wanxiang Group, which bought bankrupt Fisker Automotive Inc. The company is working on reviving the Karma model and developing new ones. The China factory will be used to make extended-range electric cars, according to the plan.”

Wanxiang Promised To Introduce The Fisker Atlantic After Resumption Of The Karma - But Will It Also Arrive In The US?

Wanxiang Promised To Introduce The Fisker Atlantic After Resumption Of The Karma – But Will It Also Arrive In The US?

Despite over 200 different manufacturers already preparing new energy vehicle models (all-electric or plug-in hybrids) in China, and the country could still be a great opportunity for Wanxiang as a premium EV provider.  The parts maker could now become a fully vertically integrated car maker.

Looking back and contemplating this Chinese factory news in better context, perhaps the many delays from Wanxiang in re-starting volume US production of the Fisker Karma (now the Karma Revero), and the now very low production levels when it finally does arrive (estimated at 100-150 cars), was intentional.

Its seems logical that Wanxiang purchased the defunct US-based assets simply to better learn the business, and to also acquire a complete EV program, rather that building one of its own (and all the difficulties that entails) for China.  Still, perhaps the development will mean that the US will finally get to see some Atlantics on the road at some point.

Earlier, Wanxiang completed its first prototype production run of the Karma Revero off its Moreno Valley, California assembly line.

source: Bloomberg

Categories: China, Fisker / Karma, General

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12 Comments on "Wanxiang To Build $375 Million EV Plant In China, Will Produce Both Atlantic And Karma"

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Heisenberghtbacktotherootsandnuts

Good news.

All investments in the ev sector are good news, no matter in which place they happen.

In the end we all share one planet!

Go wanxiang, go byd, go tesla!

I agree, they need to do it without political interference. Clean air, no pollution that is the future.

Political interference?!

The ZENN was your proverbial “glorified golf cart”. Top speed about 25 mph. This was a safety issue and nothing to do about whether it was electric or not.

Safety issue of golf cart are pretty easy to solve.
So are the one about LSV.
This is under 40 mph, a speed that you can achieve on a bicycle.
Do we have safety issue with bicycle?
Pretty weird that they haven’t been able to do it.
Choose bureaucratic over political interference if you wish.
In the end, the result are the same.

“This was a safety issue and nothing to do about whether it was electric or not.” Yes, but — at least according to what ZENN Motors claimed — the requirements were onerous and absurd. Such as needing to put collision protection mechanisms on the car which would stick out feet from the car, far different from normal bumpers. Things that would make it highly unlikely that anyone would actually buy one. In effect, it blocked ZENN Motors from being able to sell the car in the Canadian province where it was made, and where they had the most sales. It’s been a long time and I don’t remember many details. And of course, there are two sides to every story; I know ZENN’s side (as reported on the now-defunct TheEESTory forum) but not the other side. I will note that ZENN’s car was an EV conversion of a microcar made in France, so obviously the car was safe enough to pass the requirements for low-speed vehicles in France. The bottom line is that before Ottawa passed those additional requirements for what safety features low-speed vehicles needed, ZENN was able to sell their car in Ottawa. Afterward, they were not, and… Read more »

The more plug in vehicle builders, the better. The Atlantic is really the one that matters. Hopefully we will hear more about that soon.

4 years ago they were talking about the Atlantic getting 30 miles of range in EV mode. That would be the potential of up to 11,000 miles in EV mode per year if charged once a day. 22,000 miles if charged at work and home.

Not bad considering the median Leaf owner does roughly 10,000 miles each year. With that said, half a decade later they hopefully should be able to use newer batteries and get 40+ miles of range out of the same size battery pack.

A successful launch of the Karma is only interesting in that it can prove they can build a car better than the original Fisker could. So they need to pull that off flawlessly if they want people to trust them with the Atlantic.

All the 529 million in tax credit/loans have been blocked because, like the last “owners”, they have not met milestones. Looks like they are draining the company of all cash just like last time!

For those who claim EVs have clean air you need to look back at the original source of energy to produce the electricity to charge the batteries of EVs.

It takes 3 Btu of energy to produce one Btu of electricity. If you use fossil fuels, you may produce more combustion products from electricity generation than the combustion products from gasoline power. EVs get the equivalence of about 30 mpg because of the heavy batteries. The cars are compacts that probably would get 40 mpg running on gasoline.

Heisenberghtbacktotherootsandnuts
Your “argument” has been discussed here before… Many times… Btw. Your “numbers” are worth nothing. There is a variety of methods of producing electricity, some of these have about the eta you are claiming. Some not. If you just want to believe what energy companies tell you, do so. If you want to help others to understand the subject please inform yourself first. This world consists of many countries and even within those countries there are huge differences in the way electricity is produced. Each way has its pros and cons. Most countries are on their way to cleaner whenever production. Some with huge effort some with lesser. The ways to achieve that are diverse with some even misleading. In the end there is no such thing as “clean energy”. But come on, do you really believe that it’s better not to try changing for the better? Of course you can lay back and repeat what others are telling you, but it costs you virtually nothing to read something about the changes that are happening in the energy sector worldwide nowadays. And please don’t make the mistake of reading what big energy related press tells you. Go for the plain… Read more »

We test drove the Fisker Karma and it was very cool. In the end we purchased the Tesla S because back then even in 2012, we know it was the better car and car company.

I had hoped Fisker would have success with the Karma so they could build the Atlantic. It is a beautiful car and promised great tech…for its time. That is the issue now. The Model 3 is offering huge range, speed and style with super charging and autopilot. How can the Atlantic compete. I fear it will be a niche car for those that want a stylish EV not many people own. Sadly that is not a good business model.