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Ultra-rare 2006 Fisker Latigo based on BMW M6 is for sale

Former Aston Martin designer turned entrepreneur, Henrik Fisker, is known for designing models like the Aston Martin DB9, the BMW Z8, the Fisker Karma or Karma Revero, and the newest one out there, which is the Fisker EMotion. But there is another model here that you probably did not even know of - the 2006 Fisker Latigo.

Fisker only built one example of this model, making it the very first and last production model. And it is now up for grabs on the website Bring a Trailer. To get this rare model brand new, it would have cost about $216,000; but currently, its value has gone down a bit and bidding is now set at about $37,500.

Fisker’s original plan was to build 150 units of the Latigo. But after they developed the prototype and built the first production model, the project was halted. One of the reasons for this was the rising of oil prices. This coachbuilt Fisker sits on the same platform as the 2006 BMW M6, while featuring a rebuilt 5.0 liter V10 tuned by RD Sport, which is paired to a seven speed sequential manual transmission. With that engine, this model can produce 665 horsepower (495 kilowatts).

Read the entire article Ultra-rare 2006 Fisker Latigo based on BMW M6 is for sale

Fisker EMotion will receive a 145-kWh battery good for over 400-mile run

Electric vehicles are starting to become a norm in today’s world. Even the largest automakers try and follow this trend by developing their very own electric vehicles, where other companies focus on building electric cars solely.

Not so long ago, Henry Fisker announced the new EMotion, and we heard from them again earlier this week as they shared the battery specs for the electric super sedan. The company had an interview with The Detroit Bureau, and while at it, they confirmed that the battery in the EMotion is capable of holding 145 kilowatts per hour. In other words, it will have 45 percent more energy than that of the 100 kWh that the Tesla Models S and X have.

Fisker did not just mention the size of the battery, but they also said that it operates at 800 volts. So far, that is the highest that we have ever heard. In fact, it doubles that of what Tesla’s drivetrain offers. And the closest vehicle out there that can match that is the Koenigsegg Regera with its 4.5 kWh battery they got from Rimac Automobili.

Read the entire article Fisker EMotion will receive a 145-kWh battery good for over 400-mile run

Fisker to start taking pre-orders for new EMotion on June 30, starting price is at $129,900

Fisker Inc.’s countdown to the official unveiling of the new Fisker EMotion in mid-August 2017 has practically started after the carmaker released the first official teaser images and some details of its latest electric car project.

According to Fisker, the new EMotion was designed all new from inside out, with its electric car proportions made into reality by a structure made from carbon fiber and aluminum. In penning the design of the new EMotion, Fisker focused on the safety and convenience of its passengers. In fact, Fisker’s patented frontal crash structure has already surpassed the current passenger safety standards. Likewise, the new EMotion provides a luxurious and roomy cabin that offers a generous amount of legroom.

As designed, the Fisker EMotion shown in the first official images look different from the prototype’s teaser images released in October 2016. Compared with the prototype, the new EMotion – assuming that this is the final design – has a smaller grille, more realistic headlights, and more stunning turn signals. The bright aluminum centerpiece on the front end of the EMotion is home to a LIDAR system. This technology is supported by two cameras on the side mirrors, allowing for a panoramic, 360-degree view.

Read the entire article Fisker to start taking pre-orders for new EMotion on June 30, starting price is at $129,900

Fisker to unveil the new EMotion on August 17, 2017

All is set for the unveiling of the comeback model for Fisker Inc., founded and led by well-known automotive designer Henrik Fisker. For those who are following Fisker’s latest and newest electric car project, the new Fisker EMotion, save this date on your calendar: August 17, 2017.

Henrik essentially announced the date for officially unveiling of the Fisker EMotion in a post in his Twitter account. In the same post, Henrik said that the new Fisker EMotion has an EV range of more than 400 miles. With this, Henrik is confirming some details of what were disclosed in October 2016. Back then, the carmaker divulged that the new Fisker EMotion will be revealed in mid-2017, with the capability go as fast as 161 mph.

The very impressive 400-plus-mile range of the new Fisker EMotion will be thanks to a new battery technology – as conceived by Fisker Nanotech and Nanotech Energy Inc. – that employs Graphene Supercapacitors. It simply means that it won’t be getting juice from a lithium-ion battery, which the current choice of energy source for existing electric vehicles.

Read the entire article Fisker to unveil the new EMotion on August 17, 2017

Months after Fisker Inc. revealed the front end and, to some point, the profile of the new , the carmaker has now released an image of the rear end of its electric luxury sport sedan.

While the front section of the Fisker EMotion is a pure expression of technological aggressiveness, the rear end of this electric luxury sedan is a manifestation of sporty elegance. Its sportiness comes with the systemic curves as well as wide sculptural shoulders. This sense of athleticism is evident in the EMotion’s lower rear diffuser and integrated spoiler that should help this luxury sport sedan with regards to aerodynamics. One very interesting feature of EMotion’s rear end is its thin tail lights.

As designed by Fisker Inc. founder and car designer Henrik Fisker, the new Fisker EMotion doesn’t just exude unprecedented sportiness. That’s because it delivers an incredible technological prowess that’s packed with – just like its name suggests – plenty of emotion. Its front end features an extremely low bonnet – for aerodynamic enhancement – and a grille-less front fascia that seems like it came from the future. Of course, there would be no need for such a grille since the Fisker EMotion is electrically powered and thus features no conventional engine. Adding to the emotional nature of the Fisker EMotion is the unusually expressive boomerang-shaped headlamp unit that makes it seem that the electric luxury sports sedan is ready to jump into action anytime it is required to.

Read the entire article Rear end of Fisker EMotion electric luxury sports sedan becomes talk of the town

In the near future, Fisker Automotive will no longer be known by that name, as its parent Wanxiang Group plans to rebrand it as Elux, two sources privy with the plan told Reuters. Likewise, Wanxiang will push back the relaunch of the Fisker Karma until mid-2016, after hoping to revive the hybrid sports car this year. The sources said the revised Fisker Karma will be known as Elux Karma, with the Fisker to be dropped.

They added that the hybrid sports car will not be assembled in Finland as earlier planned, although Wanxiang has yet to decided on a final production site for the Karma. They disclosed that Wanxiang plans to price the ELux Karma from around $135,000, which means a nearly 20-percent premium over the final tag of the original Karma.

Fisker Automotive considered was an early rival of Tesla Motors Inc., but failed just six years following its launch in 2007 – despite support from the United States government and private investors. It was co-founded by Danish designer Henrik Fisker, who was responsible for the design of sports cars like the Aston Martin DB9 and the BMW Z8. He resurfaced last fall as the designer of a special limited edition of the Ford Mustang.

Read the entire article Fisker to be renamed as Elux starting next year

Wanxiang Group Co. is hoping to roll out a second nameplate is in the works at Fisker Automotive, joining the Fisker Karma luxury plug-in hybrid in three years, according to Chairman Lu Guanqiu. The Wanxiang chairman said he hopes to launch Fisker’s second nameplate in 2017.

He did not provide details about the model. Wanxiang is currently working to revive output of the Karma at a site in Finland but is hoping it could someday build the luxury plug-in hybrid the United States.

Production of the Karma has been on hold since 2012, after it suffered from a horde of quality issues, fire incidents, recalls and a severe cash shortage – all leading to Fisker’s Chapter 11 bankruptcy filing.

Read the entire article Wanxiang hopes to roll out second Fisker model by 2017

Creditors of the former Fisker Automotive Holdings Inc. want a bankruptcy court to permit them to submit their own liquidation plan for the collapsed carmaker. They are claiming that Fisker – now known as FAH Liquidating Corp. -- is asserting on terms that could cause on harm on unsecured creditors and place plan-approval at risk.

Lawyers for the creditors' committee said in a filing in the United States Bankruptcy Court in Wilmington, Delaware that if permitted, the creditors would offer a "consensual plan of liquidation" that leads to the "best possible" outcome and brings the bankruptcy process to a quick and cost-efficient conclusion.

The court approve in February the sale of FAH’s assets to Wanxiang Group Corp. for $149.2 million, which is nearly six times than what the defunct hybrid-car maker sought when it filed for bankruptcy.

Read the entire article Fisker creditors want to file liquidation plan for carmaker

United States Bankruptcy Judge Brendan Linehan Shannon has approved a plan by Fisker Automotive Holdings Inc. to borrow $4.98 million from Wanxiang Group. Fisker will return to court March 21 to ask for approval of the rest of a $10.5 million debtor-in-possession loan. The new financing will replace an $8.1 million loan from Hybrid Technology LLC.

Hybrid terminated the financing agreement and declared all principal and accrued interest due after Wanxiang won court approval to acquire the carmaker’s assets. Fisker filed for bankruptcy protection on Nov. 22 with a plan to sell its assets for around $25 million to Hybrid, which held a US government loan that Fisker had defaulted on.

However, Fisker’s unsecured creditors objected to the price and helped bring Wanxiang into the matter in December 2013.

Read the entire article Court allows Fisker to borrow $4.98 million from Wanxiang

Fisker Automotive, now owned by China's Wanxiang Group, is planning to resume production of its Karma plug-in hybrid luxury car "within a year" as well as complete the half-finished development of a second model, according to Pin Ni, chief of Wanxiang America. Ni remarked that the production restart will be done at Fisker’s site in Finland, with an eye to re-commence sales of Karma cars in the United States and Europe.

The Fisker Karma hybrid-electric vehicle previously had a starting price of around $100,000 before the carmaker ceased production in 2012, following a series of missteps and recalls. Ni remarked that Wanxiang is finalizing business plans for Fisker and doesn't have a forecast for the number of Karmas that will be sold. Ni, however, noted that Wanxiang wants to sell more than what Fisker sold before under its previous management.

Fisker commenced selling the Karma in 2011 and was able to sell around 1,800 units before suspending production. The figure was far behind initial projections of around 11,000 Karmas by early 2012. Ni said that once Karma sales gain momentum, Fisker could start production of the model in the US. He noted that Fisker could choose from a number of options of the Karma’s US production, including cooperating with "a potential partner out of Michigan."

Read the entire article Fisker intends to restart Karma production this year

The revived Fisker Karma will be powered by a supercharged V8 engine when it goes back to the market in the future, Wanxiang Group has disclosed. Wanxiang, which has recently won an auction to acquire Fisker Automotive, has received approval for the $149.2 million acquisition deal. The plans to revive the Karma as a dynamically powered sports car were disclosed in United States Bankruptcy Court documents and by a person briefed on them.

Founded in 2007, Fisker had wanted to become the first carmaker able to build an attention-grabbing sports car powered by a hybrid engine. The carmaker even earned support of celebrities like Leonardo DiCaprio, who was drawn in by his concern about climate change.

No thanks to a number of technological issues and management missteps, Fisker stopped production in 2012. Fisker has now tapped the talents of former General Motors executive Bob Lutz, who back then was critical of the carmaker’s environmental approach.

Read the entire article Future Fisker Karma to feature supercharged V8 engine

United States Bankruptcy Judge Kevin Gross has approved the sale of assets of Fisker Automotive Holdings Inc. to Wanxiang Group Corp. for $149.2 million. The amount is nearly six times what Fisker sought when it filed for bankruptcy. The purchase still needs clearance under federal antitrust law. Gross said that the result of the auction “shows that a fair process is a good thing.”

Wanxiang beat Hybrid Tech Holdings LLC after 19 rounds of bidding by making an offer that entails $126.2 million in cash, plus equity and $8 million in assumed liabilities. Wanxiang’s offer also includes an abandoned GM factory in Wilmington that Fisker acquired in 2010.

After filing for bankruptcy in November 2013, Fisker had asked Gross to allow Hybrid to acquire its assets for around $25 million. Hybrid held a US government loan that Fisker had defaulted on without making a payment.

Read the entire article US court okays sale of Fisker to Wanxiang Group for $149mil

Confident that it will win the auction for Fisker Automotive’s remaining assets, Hybrid Tech Holding LLC has recruited former Ford Motor Co. executive Martin Leach. Leach, who served as the former president of Ford's European operations, will provide added weight to Hybrid Tech’s management. "I've been working with them for months on a business plan and they have very clear intentions," Leach told Reuters.

Fisker filed for bankruptcy protection in November 2013 and has not built its signature Karma sports car since 2012, no thanks to technical glitches and a cash shortage. Hybrid Tech, which is an affiliate of Hong Kong tycoon Richard Li, has offered $55 million to acquire Fisker, while a unit of Chinese company Wanxiang Group placed an initial bid of around $35 million.

Wanxiang, however, has proposed that Fisker creditors will receive a 20 percent stake in the new Fisker operations. Wanxiang has also argued it could better manage Fisker’s assets.

Read the entire article Hybrid Tech taps former Ford exec Martin Leach to boost Fisker bid

February 12, 2014 would be a memorable date for two Chinese-backed firms who are aiming to acquire the assets of collapsed carmaker Fisker Automotive Holdings Inc. One of them would go home getting nothing of the carmaker while the other would rejoice after winning the auction set on that date. The companies -- Wanxiang Group and Hybrid Tech Holdings LLC – are seen to be aiming to acquire Fisker’s 18 patents and a potential toehold in the United States and China.

However, the winner has to face the fact that Fisker hasn't built a vehicle since 2012 and its $103,000 Karma plug-in hybrid sports sedan was dubbed as a "basket case" by Consumer Reports. Fisker was also labeled a "loser" by Republican Mitt Romney during 2012 US presidential debates.

Likewise, it most visible asset is a neglected former GM site that Fisker never used. With two companies seeking to acquire Fisker’s asset, a bankruptcy judge has to set a Feb. 12 auction for them. "It's not about the manufacturing," Steven Szakaly, chief economist for the National Automobile Dealers Association, told Bloomberg.

Read the entire article Two bidders vie for Fisker Automotive’s 18 patents

Hybrid Tech Holdings LLC will appeal a ruling by United States Bankruptcy Judge Kevin Gross capping its right to "credit bid" for collapsed luxury hybrid car maker Fisker Automotive Inc. at $25 million. Hybrid said in court papers filed Monday in U.S. District Court in Wilmington, Delaware that the case should go directly to the US Court of Appeals in Philadelphia and bypass the US District Court, to allow Fisker's auction to proceed efficiently in February and to ensure the appeal isn't mooted by a sale.

Gross issued a ruling on Jan. 17 that Hybrid's ability to use debt forgiveness to bid for Fisker’s assets was properly limited at $25 million rather than the $75 million that Hybrid proposed. According to Gross, a limit would promote competitive bidding that wouldn't take place if Hybrid was allowed to use the full amount of its claim. The judge also cited concerns over whether Hybrid's claim is fully secured.

According to Hybrid, time is of the essence with the Fisker auction close at hand, adding that "there is no controlling authority directly addressing the issue of a bankruptcy court's authority to limit or deny a secured creditor's right to credit bid for the purposes of fostering a competitive auction."

Read the entire article Hybrid Tech Holdings to appeal ruling that caps its credit bid for Fiskers

VL Automotive is planning to transform Fisker Karma plug-in hybrids into traditional sports cars, retrofitting them by removing their hybrid powertrains and installing Chevrolet Corvette V-8 engines and altered bodies. To achieve this, VL first needs to acquire Karmas they could work on. This could prove as a real challenge considering that Fisker Automotive stopped producing them in 2012.

One of the VL’s founders, Gilbert Villareal, said that they have already acquired 25 Karmas. VL has been purchasing Fisker off dealerships and paying them commissions for the sales. One dealer who visited VL's booth at the 2014 the Detroit auto show agreed to sell nine cars, Villarreal says. VL is expecting to retail each retrofitted Karma -- renamed the Destino -- for around $195,000, depending on options.

Destino will be powered by General Motor’s supercharged LS9 V-8 engine, which provides up to 638 hp, paired to a six-speed automatic transmission.

Read the entire article VL Automotive acquiring Fisker Karmas to create Destino sports cars

United States Bankruptcy Judge Kevin Gross has ruled that the February 12 auction for defunct Fisker Automotive would be between American unit of China's Wanxiang Group and Hybrid Tech Holdings, a company affiliated with Richard Li of Hong Kong. Fisker's committee of unsecured creditors has said it hopes to find more possible buyers before or on Feb. 7 deadline.

Gross also ruled that the attendance at the auction would be limited to the bidders, Fisker and a representative of the unsecured creditors committee.  The auction will be held at the law offices of Kirkland & Ellis in New York. Li's legal team is appealing Gross's order last week that will require bids to include some cash.

Li had planned to acquire Fisker's assets through a “credit bid,” which entail forgiving what the company owes on a $168 million secured loan. Under that process, however, unsecured creditors might get next to nothing.

Read the entire article US Judge set Fisker Automotive auction on February 12

Wanxiang America Corp., a unit of Chinese parts maker Wanxiang Group, made a bid for Fisker Automotive just days before the carmaker was to be sold to a company affiliated with Hong Kong tycoon Richard Li, according to court documents. Fisker creditors asked the United States Bankruptcy Court in Wilmington, Delaware to cancel the sale to the Li affiliate and instead hold an open auction in which Wanxiang America plans to bid.

Wanxiang has agreed to make an initial bid of $24.725 million. It also said that it will assume some liabilities of Fisker, according to court documents. A hearing has been set Friday to consider whether Fisker should proceed with the sale or adopt the proposal.

In December 2013, US judge Kevin Gross raised concerns on Fisker's apparent rush to complete its bankruptcy process, which was filed only in November.

Read the entire article Wanxiang America made surprise bid for Fisker

Fisker Automotive Holdings Inc. will not use a closed General Motors site it acquired in Delaware even if its new owner resumes output, according to United States Senator Tom Carper. While Fisker is required under an agreement with the US government to build its Karma unit in the US, it will likely produce any future models out of the country, Carper remarked.

"I'm a glass-half-full guy, but it's hard to see how this ends up with Fisker building cars in Delaware," he said. Carper was one of Fisker's supporters along with Vice President Joe Biden, a former senator from Delaware. Fisker was granted a $529 million loan in 2009 from the U.S. Energy Department but it got only $192 million after the government cut off the support after it failed to meet production milestones on the $103,000 Karma.

The Atlantic, its second model, was supposed to be produced at the Delaware site under the loan agreement but never saw assembly lines as the carmaker stopped production in 2012 after its battery supplier declared bankruptcy and most of its unsold cars were destroyed in Hurricane Sandy.

Read the entire article Fisker will not use acquired GM site, says Senator Carper

Lawyers for Fisker Automotive Holdings Inc. have managed to convinced United States Bankruptcy Judge Kevin Gross in Wilmington that the carmaker’s Chapter 11 should proceed at an unusually rapid pace. Gross began a Tuesday hearing by suggesting that Fisker should slow down its plan to sell its assets to Hong Kong tycoon Richard Li and give creditors four more weeks to get hold of the situation, saying that it should “allow time for the creditors' committee to continue and complete its investigations."

Fisker filed for bankruptcy on Nov. 22, 2013, while a creditors' committee was established on Thursday. The carmaker has not built a car in almost 18 months and Gross said that there was no business that has to be rescued via bankruptcy. "This is not the case of a melting iceberg or a burning omelet or anything of that nature," he said.

Attorneys for both Fisker and its creditors beg to disagree. In fact, no one took up the judge's suggestion to slow the process.  said Sunni Beville, a lawyer at Brown Rudnick who represents the committee of unsecured creditors, remarked that the creditors' committee agreed that Fisker’s timeline is the “right timeline."

Read the entire article Judge okays quick Chapter 11 proceedings for Fisker