Fisker Automotive on Track for 2009 Fourth Quarter Delivery Despite Recent Allegations

IRVINE, Calif., April 24 -- Today, Fisker Automotive, Inc. announced that the company is on track for delivery of the Fisker Karma in Q4 2009, and that it will vigorously defend the recent allegations put forth by Tesla. Tesla Motors breached the arbitration agreement in its contract with Fisker by filing these meritless claims in San Mateo County court.

"The lawsuit is nonsense," said Henrik Fisker, CEO, Fisker Automotive. "Fisker Coachbuild has non-exclusive design contracts as shown by the cars we have designed for a variety of manufacturers."

Fisker Automotive launched the highly anticipated Fisker Karma, a plug-in hybrid electric (PHEV) premium vehicle at the 2008 North American International Auto Show. The revolutionary technology incorporated into the powertrain was developed by Quantum Technologies, a public company, which first proved its capability with the launch of a U.S. military vehicle created for U.S. Army Special Operations in 2003.

"In January of 2007 I first met Henrik Fisker. Soon thereafter, I became convinced that a strategic alliance joining together Quantum's (PHEV) unique technology position with Fisker's design expertise could be leveraged into a company capable of launching the first premium sports sedan for the (PHEV) segment," expressed Alan Niedzwiecki, CEO, Quantum Technologies. "In August 2007 that vision became a reality with the inception of Fisker Automotive Inc., effectively combining Quantum's (PHEV) drivetrain expertise with a remarkable design from Fisker Coachbuild LLC."

"We are confident that Fisker Automotive continues to be a tremendous investment opportunity," said Ray Lane, Kleiner Perkins. "The design innovation of Henrik Fisker combined with the hybrid drive train experience of Quantum is unique in the automotive market."

The Fisker name for more than a decade has attracted and attained worldwide recognition. Henrik Fisker has more than 19 years of experience in the automotive and product design arena. Some of his pioneering includes work on the BMW E-1 electric car in 1991, the BMW Z8 and the Aston Martin V8 Vantage. Most recently Fisker Coachbuild created the Fisker Tramonto and Fisker Latigo CS in 2005.

"Fisker Coachbuild is proud of its premier reputation for design work and we look forward to continuing to build on that reputation," said Henrik Fisker.

About Fisker Automotive, Inc.

Keeping with the company's mantra of "Simply World Class", Fisker Automotive and its retailers will offer a customer experience second to none. All retailers will be housed in eco-friendly facilities and will offer consumers a unique personal approach, including the ability to ask questions via video conference with an expert at Fisker Automotive headquarters and flexible scheduling based on consumer availability.

Fisker Automotive is a privately owned car company with Henrik Fisker as the CEO. Fisker Coachbuild, LLC will be the exclusive design house for Fisker Automotive through the entire range of product development.