Quantum Awarded Purchase Order by Fisker Automotive for Supply of Plug-In Hybrid Powertrain Systems for Fisker Karma Program

July 11, 2010 by Jeff Shepard

Quantum Fuel Systems Technologies Worldwide, Inc. announced that it has received an initial purchase order for supplying Q-Drive™ powertrain systems for the Fisker Karma production program under the terms of its supply agreement. Under this purchase order, Quantum will supply the first production systems this fall to enable the start of volume production, which is expected to commence in February 2011, with a forecasted production volume of 15,000 vehicles per year. Quantum recently signed a Supply Agreement with Fisker Automotive to supply key components and control systems for the Q-Drive powertrain system that is being incorporated into the Fisker Karma.

"Quantum is proud to be supporting Fisker by providing key Q-Drive™ plug-in hybrid powertrain components to enable the luxury high performance sedan, Karma, to excel in fuel economy and performance" said Alan P. Niedzwiecki, the President and CEO of Quantum. "It is exciting to see Fisker moving quickly into the production phase."

Fisker Automotive, the green American car company that Quantum co-founded, closed a Department of Energy loan for $528.7 million in April 2010. This DOE loan to Fisker will be used for the development and production of two models of plug-in hybrid electric vehicles, including the Karma, a four door sports sedan, and a line of family-oriented models being developed under Fisker’s Project Nina program.