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Expect Karma Delivery in Q1 of 2011

Thursday, November 18, 2010 - 04:34

CEO of Fisker Automotive Henrik Fisker says his company is not rushing an IPO, but is focusing instead on delivering its hybrid coupe, the Karma, by March 2011.

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your launch before how confident are you that he'll deliver a hybrid comedy show rooms. In March. Well you have to remember that actually even though we have Toledo -- which would mainly due to financing reason is that we see is specifically in Europe. That obviously the gas price is about seven to eight dollars a gallon. There's a lot of new rules and regulations that will penalize vehicles which pollute. So in Europe you have you know -- you to Texas gonna have to be paid yearly. At this hero attacks on the Carmen all future models. So we see huge potential. For sales in Europe off future vehicles these and one of the reasons he chose Delaware as a place for planet for export purposes. Quite -- and export mostly to Europe and the Middle East as opposed in the Pacific growth markets of Asia. No we're gonna plan mostly Europe and Asia I mean China's going to a lot of other. As things obviously I think it's fantastic for General Motors that they're doing so well I think it is it's a good sign for the entire car industry here in the US. 75250. Million dollars in an IPO. In the carmaker expects to begin delivering it hybrid luxury sport coupes in the first quarter. Here to talk about the money and new car is company's chief executive and mr. Eric you've had to delay your launch before how confident are you that he'll deliver a hybrid comedy show rooms. In March. Well you have to remember that actually even though we have Toledo -- which would mainly due to financing in 2009. We still developed this kind of three years which is way below industry stand arts. So we're very confident will -- in March because they're already started the pilot production off factory. All right Mike I don't you don't foresee a big drop in battery prices one big drop in the weight. Of batteries motors and engines I've read the Carla was more than 5000 pounds versus Chevy Volt which weighs 3700. What is the -- the final product will weigh less than he can boost efficiency. Well first. You have to remember that -- vehicle as big as the BMW seven series are forced Penn America and all these vehicles to weigh up to was 5000 pounds. But regardless of that I do think that we're gonna see it big decrease in weight on the power train itself. And is not only the batteries just in birders is that cabling. It's the electric motors and generator. So there's a lot of parts in the vehicle which is going to see a dramatic. Drop in weight over the coming years. And and I expect that you know to happen within next 34 years. About how much of a drop in -- talked about over the next 34. I would say as thirty to 40% of the power train itself. Why not in the past he said you'll export more than. Half of your cars today your -- export more than 60%. At a Reuters Carson. Are you raising the portion of exports and if so why. Well -- said. 50% to 60% is obviously also correct. I guess I'm just getting a little bit more specific that it will be about 60%. The reason is that we see is specifically in Europe. That obviously the gas price is about seven to eight dollars a gallon. There's a lot of new rules and regulations that will penalize vehicles which pollute. So in Europe you have you know -- you to Texas gonna have to be paid yearly. At this hero attacks on the Carmen all future models. So we see huge potential. For sales in Europe off future vehicles these and one of the reasons he chose Delaware as a place for planet for export purposes. Quite -- and export mostly to Europe and the Middle East as opposed in the Pacific growth markets of Asia. No we're gonna plan mostly Europe and Asia I mean China's going to be we believe a big market for us as well. And and Japan all social Europe Canada and Asia as the two main markets where we do export and what about a percentage breakdown in terms of the markets. You know we we don't have eyewitness telling a final percent but somewhere in the range of 40% to Europe and 20% who Asia in the beginning. And you expect you and I feel after you deliver your first car calendar wise what do you see is a window of opportunity given market conditions and GM's IPO. Well I only said that we obviously have to get the car in production until we would consider an IPO. So we don't have a set timeframe on that it all depends on the market and a lot of other. As things obviously I think it's fantastic for General Motors that they're doing so well I think it is it's a good sign for the entire car industry here in the US. And I I think less specific because of their -- obviously they're coming out was which is a leader in that statement that they're gonna do very well and IPO. And lastly -- UAW says it's confident they can. Represent workers that you're Delaware plant. As executive isn't in your interest not to have union represented workers seeking keep costs lower. You know today I don't think there's such a huge cost difference when you look at it. UAW salaries and other salaries simply because they have been renegotiate over the last couple years. But apart from that. When it comes to Delaware and office -- we're starting on the clean sheet of paper and and really we -- equal opportunity employer and an end of the day -- the of the date. The people in the factory output are going to have to decide. What they want to do well thanks flock joins interviews Henry. Project thank you very much our thanks to -- CEO Henry -- I'm Fred Katayama. This is Reuters.

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Expect Karma Delivery in Q1 of 2011

Thursday, November 18, 2010 - 04:34