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Fisker offers the first luxury, plug-in hybrid
Fri. September 18, 2009; Posted: 12:20 PM
Sep 18, 2009 (Pittsburgh Post-Gazette - McClatchy-Tribune Information Services via COMTEX) -- QTWW | Quote | Chart | News | PowerRating -- Fisker Automotive is poised to join the big leagues with a luxury hybrid sedan with a top speed of 125 mph.
The privately owned company based in Irvine, Calif., was created in 2007 to leverage the design capabilities of Fisker Coachbuild, founded by auto design veterans Henrik Fisker and Bernhard Koehler, and the plug-in hybrid electric vehicle powertrain capabilities of Quantum Fuel Systems Technologies Worldwide Inc., a supplier of clean vehicle technologies.
When it goes on sale in 2010, the Karma is meant to be the first luxury, plug-in hybrid electric vehicle. The four-door car is expected to be followed by two variants and a second line of lower cost, high-volume premium green automobiles by 2012. Fisker spokesman Russell Datz said the Karma gets about 67 miles per gallon in combined city/highway driving.
So far, Fisker has the facilities, the buzz, the car -- and about 1,500 advance orders. Its officials hope to hit full production of about 15,000 cars annually in 2011. The cars will be built in Finland.
But given the tough economy and an auto industry increasingly under pressure, can the maker of a hybrid luxury sedan with prices starting at $87,900 survive and prosper?
Some analysts think so.
"In the past, yes, there have been startups that had a run at it and disappeared," said Jeff Schuster, executive director of forecasting for J.D. Power and Associates. "But I think the environment is different now .... They are saying that you can have your cake and eat it, too, with a car that's got environmentally friendly technology without compromising performance, sportiness and interest.
"As long as they stay true to that vision, it can work."
Officials at Fisker Automotive hope so.
"What you have right now working for us is a perfect storm socially, politically and industrially," said Mr. Datz.
"Socially, more and more people are becoming aware that if we are to sustain our car-centered lifestyle, we have to reduce our dependence on gasoline-powered cars."
Politically, he said, "The Obama administration is more supportive of new automotive technology and entrepreneurship, perhaps more than any other presidency in history." He pointed to a multibillion-dollar program that encourages the development of new technology in the U.S. auto industry. Fisker has an application in for funds that Mr. Datz is optimistic will be approved.
Industrially, he said, all of the recent turmoil in the auto industry has created opportunities for new auto companies.
Mr. Schuster said Fisker Automotive has an allure that may net many affluent buyers. "It's unique because you have a sexy sports sedan that also is a hybrid. That in itself is marketable."
"It's going to appeal to a small fringe market," said independent auto analyst Tom Libby, in Detriot. "It will get the people for whom money means absolutely nothing, or people who want to make a statement about being environmentally conscious, or those who fall in both segments."
But sexy curves or no, affluent car buyers will have the same questions and concerns as other consumers, Mr. Schuster said. "They want to know how do I get one, how do I get it serviced, what kind of experience will I have and will I be able to get parts for it."
In other words, it's all about consumers' confidence and convincing them that the company and car will be around for a while.
Mr. Datz said Fisker was taking steps to build that confidence.
"The first thing we're doing is establishing a retail network of reputable retailers across the country. These are dealers that have been in business for many years handling premium brands like BMW, Land Rover, Porsche and Jaguar. They will be marketing and servicing our cars," he said. There are no dealers chosen in Pittsburgh yet.
Second, he said, "We will have a competitive bumper-to-bumper warranty, which should put people at ease that any issues that should happen with the car will be taken care of."
Finally, Mr. Datz said: "The people who are developing, engineering and designing the car are all auto industry veterans. They are all working to ensure that the car is put together as well as any premium car on the road."
CEO Henrik Fisker was design director for Aston Martin and president and CEO of BMW's Designworks USA. COO Bernhard Koehler led design operations at Ford, Aston Martin and BMW.
Other challenges for the young company have more to do with business strategy than with the car itself.
"You have to have managed growth, continual awareness of your product and your market, and more of a steady approach without losing consumer interest along the way. Those are the keys to longevity," Mr. Schuster said.
"I think it takes time to get one's message out and then to establish yourself and develop a brand image," he added. "They have all the components and recipes, but an element of 'soak time' needs to be allowed, for the message and image of the car to soak into the consumer and build awareness."
Don Hammonds can be reached at 412-263-1538 or dhammonds@post-gazette.com.
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For full details on Quantum Fuel Sys Techworldwide (QTWW) click here. Quantum Fuel Sys Techworldwide (QTWW) has Short Term PowerRatings of 4. Details on Quantum Fuel Sys Techworldwide (QTWW) Short Term PowerRatings is available at This Link. |
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