Quantum Wins Supply Contract For Fisker Karma

DETROIT (AP) -- Quantum Fuel Systems Technologies Inc. said Friday it will supply the hybrid control system and solar roof module for Fisker Automotive's Karma four-door sports sedan.

Quantum will get a royalty payment on each Karma sold with Quantum's hybrid control system, the company said in a statement.

Under the agreement, the Irvine, California-based Quantum will get the opportunity to supply components for future Fisker vehicles if Quantum meets the automaker's performance, cost and delivery standards.

Production of the $87,900 plug-in rechargeable Karma gas-electric hybrid is expected to begin later this year.

Privately held Fisker, which is headed by Danish automobile designer Henrik Fisker and also headquartered in Irvine, was founded in 2007 and is among the newest entrants in the U.S. auto industry. The company has plans to sell a lower-cost hybrid family sedan starting in 2012.

Fisker says a fully-charged Karma will run on electricity for 50 miles, then a gasoline motor turns a generator to recharge the batteries. After 50 miles, the car runs as a hybrid-gas electric vehicle.

In October, the company announced it was buying a shuttered General Motors factory in Wilmington, Delaware to build the cheaper vehicle. Last month Fisker, which was co-founded by Quantum, closed on a $529 million federal loan to develop and produce its plug-in hybrids.

Quantum develops advanced powertrains, energy storage technology and alternative fuel vehicles.

Fisker plans to produce 15,000 Karmas per year starting in 2011, the first full year of production, Quantum said in a statement.

Shares of Quantum were up 2 cents, or 3.2 percent, to 66 cents in morning trading.

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