North American International Auto Show - January 11-25, 2009, COBO Center, Detroit, Michigan
Forty-five and Counting! "It's Easy Being Green -- at NAIAS!"
The North American International Auto Show is proud to showcase yet another innovation to the world this January. See below as Fisker Automotive provides the Detroit-based auto show with some good "KARMA!" Currently, the NAIAS has 45 unveilings on tap for its January show -- up from 41 at this same time last year.
Quantum's Affiliate, Fisker Automotive, to Showcase First Production Vehicle, the Fisker KARMA, at the North American International Auto Show (NAIAS)
IRVINE, Calif., Dec. 3 /PRNewswire-FirstCall/ -- Quantum's affiliate, Fisker Automotive, Inc., a green American premium sports car company, today announced that Fisker's first production car, the Fisker KARMA, will be showcased at the North American International Auto Show, Detroit, Michigan, January, 2009. With only minor design enhancements made to the exterior of the vehicle, the production Fisker KARMA plug-in hybrid retains the extreme proportions and beautiful sculpture of the January 2008 KARMA show car.
With a base price of $87,900 (USD), the Fisker KARMA is scheduled to begin delivery in November, 2009. Quantum will supply its proprietary "Q-Drive" high-performance plug-in-hybrid electric vehicle architecture for the current Fisker Hybrid sedan as well as all future Fisker models. The Q-Drive plug-in hybrid electric drive system is designed to achieve 50 miles of zero emission, battery-only range while providing combined gasoline-electric hybrid operation to enable uncompromised vehicle range and performance. The Q-Drive system will be integrated into a unique chassis developed by Quantum that will enable optimizing the performance and vehicle dynamics. Benefits of the Q-Drive system include optimized fuel efficiency and superior performance, unchanged refueling infrastructure, and home-based battery recharging with any 110-volt outlet or, as an option, 220/240-volt fast-charging using Quantum's solar energy powered re-charging station. With this balance of electric and gasoline range, Fisker Automotive estimates that most KARMA drivers who charge the KARMA overnight and commute less than 50 miles per day will be able to achieve an average fuel economy of 100 mpg (2.4L/100km) per year.
The production model to be featured at the 2009 NAIAS will include an upper grill that is graphically enhanced, being slightly larger towards the outer corners. The lower air intake has been enlarged to allow for more airflow and underneath the rear bumper, an aerodynamic diffuser includes the integration of a cooling cover for the electric drivetrain.
To optimize cooling and aerodynamics, the exhaust pipe from the Internal Combustion Engine (ICE) is routed directly out behind the front wheels. A small functional side vent will release the hot air when the ICE engine is turned on. The Fisker KARMA also features a complete flush B-pillar. The B-pillar is a safety feature and already fulfills the proposed 2012 rollover protection safety regulations.
Underneath the KARMA is an all aluminum spaceframe made in cooperation with Norsk Hydro. The exterior body is a combination of aluminum panels and composite panels. The KARMA has a unique sustainable interior strategy. The design of the interior cabin is a luxurious tailored space for four adults. The interior will be unveiled for the first time in its final form at the 2009 NAIAS.
The vehicle's ride and handling is decisively sporty and includes very responsive steering. The KARMA's long wheel base, wide track and low center of gravity provide excellent cornering and stability at highway speeds.
Quantum's innovative powertrain, Q-drive, utilizes a large, powerful lithium ion battery and a powerful 2-liter direct injected turbo-charged 4-cylinder gasoline engine developing 260 hp, which enables the KARMA to achieve a continuous top speed of 125 mph and a 0-60 of 5.8 seconds. The large powerful lithium ion battery provides 22.6 kWh, which has unique control software. The two powerful electric motors deliver a combined 408 hp.
The Fisker KARMA will be assembled by Valmet Automotive in a highly automized assembly facility. Valmet Automotive is currently producing the Porsche Boxster and Porsche Cayman. The first Fisker KARMA will be delivered to customers in November 2009. Yearly volume is anticipated to reach 15,000 cars per year.
A total of 40 retailers for the U.S. will be established by October 2009. Fisker Automotive will announce 20 of their Retailers in January 2009. European pricing will be announced at the International Geneva Motor Show in March, 2009.
Henrik Fisker, CEO of Fisker Automotive, stated, "We are very excited to be bringing the Fisker KARMA back to NAIAS. In the year since we debuted the KARMA, the reception we've received has been tremendous. I'm proud to announce at this time that we are already sold out on the car until mid-2010."
Alan P. Niedzwiecki, President and CEO of Quantum, stated, "We are pleased with the development and integration of the Q-Drive architecture and the early success of this vehicle program."
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
More information can be found about Quantum's products and services at www.qtww.com/. Quantum is a member of the Russell 2000(R) and Russell 3000(R) indexes.
Fisker Automotive is a privately owned car company with Henrik Fisker as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development. The company has backing from Kleiner Perkins Caufield & Byers, Palo Alto Investors and Qatar Investment Authority.
Statements in this document regarding future financial and operating results, future growth in customers and development programs, the development and commercialization of hybrid vehicles, hybrid vehicle specifications, new or expanded customer contracts, the commitment of suppliers and other entities to the Karma vehicle program, future opportunities for Quantum, and any other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements that are not statements of historical fact (including but not limited to statements containing the words "will," "believes," "plans," "anticipates," "expects," "estimates," and similar expressions) should also be considered to be forward-looking statements. There are a number of important factors that could cause actual results or events to differ materially from those indicated by such forward-looking statements, including: variations in pricing, engineering and material costs, development costs, other general costs and expenses; other new model platforms; the ability to retain key personnel; the Company's ability to successfully execute its business strategies; growth of the hybrid vehicle market; the levels of commitment by OEMs, governments and other entities to the commercialization of hybrid and alternative fuel technologies; our dependence on a concentrated number of customers for a substantial majority of our revenues; the timing of product cycles for our OEM customers; delays in the development of a commercial market for our products; our reliance on a limited number of suppliers for raw materials used in our products; shortages of raw materials; competitive conditions in the industry; business cycles affecting the markets in which the Company conducts business; and economic conditions generally. Additional factors may be found in Quantum's Form 10-K for the year ended April 30, 2008 and in the other documents filed by Quantum with the Securities and Exchange Commission.
Forward-looking statements are based on the beliefs, opinions, and expectations of the Company's management as of the date of this press release, and the Company does not assume any obligation to update its forward-looking statements if those beliefs, opinions, expectations, or other circumstances should change.
About the North American International Auto Show
Rod Alberts - Executive Director
Entering its 21st year as an international event, the NAIAS is among the most prestigious auto shows in the world, providing unparalleled access to the automotive products, people and ideas that matter most - up close and in one place. One of the largest media events in North America, the NAIAS is the only auto show in the United States to earn an annual distinguished sanction of the Organisation Internationale des Constructeurs d'Automobiles, the Paris-based alliance of automotive trade associations and manufacturers from around the world. The NAIAS Web site can be accessed at www.naias.com.