IRVINE, Calif., Jan. 9 /PRNewswire-FirstCall/ -- Quantum Fuel Systems Technologies Worldwide, Inc. announced today that its Fisker Automotive, Inc. joint venture will launch the Fisker Hybrid at the North American International Auto Show (NAIAS) to be held in Detroit, MI on January 19-27, 2008. The Fisker Hybrid sedan will be showcased in two locations at NAIAS, with the main display in the Oakland Hall at Booth OAK9 and a second sedan displayed together with a solar energy-based re-charging station, developed by Quantum in conjunction with its German solar energy partner, Asola Advanced and Automotive Solar Systems GmbH ("Asola"), in the Michigan Hall at Booth MH24.
The 2010 Fisker Hybrid is a 4-door premium sports sedan, positioned to meet the increasing demand for "green vehicles" in the luxury automotive market segment. Initial deliveries are anticipated to commence in the 4th quarter of 2009, with annual production projected to reach 15,000 units. Quantum will supply its proprietary "Q-Drive" high-performance plug-in-hybrid electric vehicle architecture for the current Fisker Hybrid sedan as well as all future Fisker models. The Q-Drive plug-in hybrid electric drive system is designed to achieve 50 miles of zero emission, battery-only range while providing combined gasoline-electric hybrid operation to enable uncompromised vehicle range and performance. The Q-Drive system will be integrated into a unique chassis developed by Quantum that will enable optimizing the performance and vehicle dynamics. Benefits of the Q-Drive system include optimized fuel efficiency and superior performance, unchanged gas station infrastructure, and home-based battery recharging with any 110-volt outlet or, as an option, 220/240-volt fast-charging using Quantum's solar energy powered re-charging station.
The Fisker Hybrid will be offered with an optional roof-integrated solar photovoltaic generation system supplied by Asola to provide power for ventilation when parking, pre-air conditioning of the vehicle, supplemental cooling of the lithium-ion battery pack, and opportunity trickle charging of the vehicle batteries.
Recently, auto industry sales and marketing veteran Victor H. Doolan was appointed by Fisker Automotive Inc. to become a member of Fisker's board and lead the automaker's global retail development. Mr. Doolan was formerly President of BMW of North America, President, Executive Director of the Premier Automotive Group, the luxury division of Ford Motor Company, and President of Volvo Cars North America. During his tenure with these automakers, Mr. Doolan led each through periods of continuous sales growth in the United States.
"The new Fisker Hybrid sports sedan, which incorporates Quantum's proprietary Q-Drive system, will change the way we look at the automotive world," said Alan Niedzwiecki, the President and CEO of Quantum. "Featuring the design aesthetic of Henrik Fisker, world renowned automotive designer of the Aston Martin DB9 and V8 Vantage and BMW Z8, the Fisker Hybrid premium sports sedan provides discerning environmentally conscious consumers with no compromise of performance or luxury together with its energy efficient, low emission signature."
About Quantum:
Quantum Fuel Systems Technologies Worldwide, Inc., a fully integrated alternative energy company, is a leader in the development and production of advanced propulsion systems, energy storage technologies, and alternative fuel vehicles. Quantum's portfolio of technologies includes advanced lithium-ion battery systems, electronic controls, hybrid electric drive systems, hydrogen storage and metering systems, and alternative fuel technologies that enable fuel efficient, low emission hybrid, plug-in hybrid electric, fuel cell, and alternative fuel vehicles. Quantum's powertrain engineering, system integration, vehicle manufacturing, and assembly capabilities provide fast-to-market solutions to support the production of hybrid and plug-in hybrid, hydrogen-powered hybrid, fuel cell, alternative fuel, and specialty vehicles, as well as modular, transportable hydrogen refueling stations. Quantum's customer base includes automotive OEMs, dealer networks, fleets, aerospace industry, military and other government entities, and other strategic alliance partners.
Quantum has also formed a new company with Fisker Coachbuild, LLC, which is called Fisker Automotive, Inc. Fisker Automotive will offer a range of environmentally friendly premium cars, incorporating Quantum's proprietary high-performance plug-in-hybrid electric vehicle architecture, known as "Q-Drive," into a unique chassis that will enable optimizing the performance and vehicle dynamics.
More information can be found about Quantum's products and services at http://www.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 revenues and operating results; future opportunities for Fisker Automotive and Quantum; the Company's ability to fulfill orders in the future; 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, the Company's ability to successfully incorporate the Quantum Q-Drive system, Fisker Automotive's ability to reach annual production goals, and the ability to meet performance requirements. 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.
For more information regarding Quantum, please contact:
Dale Rasmussen
Investor Relations
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