Quantum Fuel Systems Technologies Worldwide, Inc, a global leader in natural gas storage systems, integration, and vehicle system technologies, announced an agreement with Fisker Automotive and Technologies Group LLC. Fisker, controlled by Chinese parts maker Wanxiang, plans to resume production of the Fisker Karma and later launch the mid-sized Fisker Atlantic.
The Fisker Karma had been produced in Finland. A production site for the Atlantic has not been announced. The previous owner of Fisker received federal and state loans to build the vehicle at the former GM Boxwood plant west of Wilmington. The new Fisker has not ruled out the Delaware site, although industry experts put the odds of anything happening in here as 50-50 or less.
Quantum will license its plug-in hybrid control software to Fisker Auto Group and, in return, will receive an first payment of $2 million on or before November 27 and a second payment of $2 million on or before October 27, 2015.
The agreement also gives Fisker Auto Group the option to acquire joint-ownership of the hybrid control software for the Karma, Atlantic and future platforms for additional consideration on or before October 27, 2016. Wanxiang won a bidding battle for the assets of Fisker in U.S. Bankruptcy Court in Wilmington. Those assets include the Boxwood plant.
The administration of New Castle County Executive Tom Gordon has proposed that the county buy the plant. It is part of an ambitious plan that would include a new deepwater port along the Delaware River, with the site being used for export-related purposes.
Even if Wanxiang did build cars at the plant, much of the Boxwood site would remain vacant.
“Fisker Automotive and Technologies Group, LLC is excited about the partnership with Quantum. This arrangement allows us to improve the Karma and re-launch with added improvements and still fulfills our core objective for Fisker Automotive and Technologies, LLC to own the core intellectual components of the car. Fisker Automotive and Technologies Group, LLC is excited to work on the next phase of the partnership with Quantum,” said James Taylor, vice president of manufacturing and purchasing.
