Drive the Future With Fisker Automotive, a New Green American Premium Car Company Wednesday September 5, 9:48 am ET
IRVINE, Calif., Sept. 5 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. (Nasdaq: QTWW - News) and Fisker Coachbuild, LLC announce the launch of a joint venture in Fisker Automotive, Inc. -- a green American premium car company. Fisker Automotive will offer a range of environmentally friendly premium cars -- with the first production car to make its Worldwide North American debut at the 2008 Detroit Auto Show in January. Initial production is anticipated to be 15,000 vehicles annually with pricing to start under $100,000. Design and technology development are already underway for the first production car. All models will feature cutting-edge plug-in hybrid technology penned as Quantum Drive, developed by Quantum Technologies exclusively for Fisker Automotive. This all-new plug-in Quantum Drive chassis layout will allow Fisker to design innovative luxury cars with uncompromised proportions.
The Fisker name has attracted and attained worldwide brand recognition, thanks to years of first-class automotive designs. Over his 18 years in the car design business, Henrik Fisker has left his thumbprint on some of the most highly regarded automobiles. His creations range from the BMW Z8, Aston Martin DB9 & V8 Vantage to his most recent creations -- the Tramonto and Latigo CS, designed under the Fisker Coachbuild nameplate. Fisker Automotive will retain the orange and blue logo originated at Fisker Coachbuild.
"The troubled environment is captivating the attention of the world. Developing a premium luxury green car which also delivers attractive design can make a difference. We are extremely excited to join our automotive design expertise with the plug-in hybrid technology of Quantum in Quantum Drive. This breakthrough chassis development will allow us to deliver a design with dramatic proportions -- one which will carry the Fisker badge," expressed Henrik Fisker, CEO of Fisker Automotive, Inc. "We want people to drive beautiful fast cars that make environmental sense -- cars that are eco-chic and will have less of an impact on global warming."
Quantum Technologies has a long history of advancing technology. Benefits in developing an entirely new, from-the-ground-up design for a plug-in hybrid vehicle include optimized fuel efficiency and performance, unchanged gas station infrastructure, home based battery recharging with any 110-volt outlet at a fraction of the cost. A cleaner and a quieter car for local travel ... all with the most advanced comforts that are anticipated with a luxury car.
"Our goal here is to deliver the advancement that Quantum Technologies has made in the area of plug-in hybrid technology. By combining our efforts with the renowned design talent of Henrik Fisker, we can produce a car that makes a difference to the environment -- without sacrificing the luxury that accompanies the finest automobiles," stated Alan Niedzwiecki, CEO Quantum Technologies.
Fisker Automotive is a privately owned car company, operated by the executive management team of Fisker Coachbuild, LLC with Henrik Fisker as the CEO of Fisker Automotive. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development.
About Fisker Coachbuild, LLC:
Fisker Coachbuild, LLC is a privately owned company that has brought a new vision to the world of exotic, high-end performance sports cars. Their distinctively designed and expertly engineered automobiles are hand crafted using only the best quality materials and infused with cutting-edge safety technology. Fisker Coachbuild offers elegant and timeless sports cars of limited production providing the ultimate in exclusivity. The Fisker line is currently comprised of the Tramonto and Latigo CS. Creative design services are also carried out for further brand recognition within Fisker Coachbuild through merchandising. Designed by Fisker Coachbuild has also made its mark with the Artega GT design recently launched at the Geneva Auto Show in 2007. Now the future strategy will be to focus solely on the design of the environmental friendly premium cars for Fisker Automotive, Inc.
About Quantum Technologies:
Quantum is a publicly traded, world leader and OEM supplier of state-of- the-art clean propulsion technologies, fuel and energy storage technologies and services including propulsion systems for hydrogen fuel cell vehicles, hydrogen internal combustion engine vehicles, compressed natural gas vehicles, liquid petroleum vehicles, hybrid electric vehicles and plug-in hybrids based on advanced electronic control systems and Lithium Ion batteries developed by Quantum's strategic alliance partner Advanced Lithium Power Ltd. Quantum also provides engineering services including vehicle development and homologation and second stage vehicle manufacturing through its subsidiary Tecstar. More information can be found about Quantum's products and services at qtww.com.
Forward Looking Statements
Except for historical information, the statements, expectations, and assumptions contained in the foregoing press release are forward-looking statements. Such forward-looking statements include, but are not limited to, the Company's expectations regarding expected future production volumes, future revenues and operating results and other statements about the future expectations, beliefs, goals, plans, or prospects expressed by management. Such statements are subject to a number of risks and uncertainties, and actual results could differ materially from those discussed in any forward-looking statement. Factors that could cause actual results to differ materially from such forward-looking statements include, among other factors, prevailing market conditions; the Company's ability to design and market automotive products; the Company's ability to meet customer specifications and qualification requirements; availability of component parts and raw materials that meet the Company's requirements; and the Company's ability to source alternative materials and suppliers. Reference should also be made to the risk factors set forth from time to time in the Company's SEC reports, including but not limited to those contained in the section entitled "Risk Factors" in the Company's Annual Report on Form 10-K for the fiscal year ended April 30, 2007. The Company does not undertake to update or revise any of its forward-looking statements even if experience or future changes show that the indicated results or events will not be realized.
©2007 Quantum Fuel Systems Technologies Worldwide, Inc. Advanced Technology Center 17872 Cartwright Road, Irvine, CA 92614 Phone 949-399-4500 Fax 949-399-4600
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