Fisker's new owner teams up with Lutz on V-8 Karma - AutomotiveNews
February 19, 2014
WILMINGTON, Del. (Reuters) -- Fisker Automotive's new owner says the Karma sports car will come roaring back with a supercharged V8 engine -- with the help of former General Motors executive Bob Lutz.
The U.S. unit of Wanxiang Group of China received approval on Tuesday to acquire Fisker's assets for $149.2 million. Plans to revive the Karma as a traditional gas-guzzling sports car were revealed in U.S. Bankruptcy Court documents and by a person briefed on them...
...Lutz, a high-profile critic of Fisker's environmental approach, will get a chance to prove his contention that luxury car owners want firepower under the hood more than a reduced carbon footprint.
Wanxiang plans to team up with Lutz and his partner Gilbert Villarreal, who have established VL Automotive. Lutz' involvement with the Karma goes back several months, but he wasn't linked to Wanxiang's bid until now.
'Soul of Fisker'
In a presentation to creditors, Wanxiang called VL the "soul of Fisker" and praised the company for building the "first true American luxury grand touring sedan in decades, the VL Destino."
The Destino takes a Karma body and combines its external beauty with the internal brawn of a Corvette ZR-1 drive train, to produce an car that can hit 200 miles per hour...
Wanxiang plans to restart auto production in the coming months, first at Fisker's plant in Finland. After working through the inventory in northern Europe, it will begin to produce cars at VL's facility in Auburn Hills, Mich., near Detroit. The company has also mentioned making use of the Delaware plant...