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Quantum to Supply Parts for Fisker Karma

May 10, 2010

IRVINE, CA - Quantum Fuel Systems Technologies Worldwide Inc. said it has formally agreed to supply key components and control systems to Fisker Automotive for the Q-Drive powertrain system used in Fisker's Karma plug-in hybrid vehicle. 

The Karma's Q-Drive plug-in hybrid technology was developed by Quantum Fuel Systems Technologies. A fully charged Karma burns no fuel for the first 50 miles. Beyond that range, the gasoline engine turns a generator to charge the lithium-ion battery and the car operates as a normal hybrid vehicle.

Under the terms of the licensing and supply arrangement, Quantum will be the exclusive supplier of the Q-Drive hybrid control systems and the solar roof module. Quantum will also receive a royalty payment on each Karma sold that incorporates Quantum's Q-Drive. 

The supply agreement will also provide Quantum with the opportunity to supply components and systems for future Fisker Automotive vehicle programs, as long as Quantum meets the automaker's performance, cost and delivery requirements. 

Quantum is continuing its test and validation of its Q-Drive system, under a funded development program with Fisker Automotive. Production is expected to begin later this year. 

Fisker Automotive, an American green car company that Quantum co-founded, closed a Department of Energy loan for $529 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. They are the Karma, a four-door sports sedan, and a family-oriented model being developed under Fisker's Project Nina program.

 "We are quickly approaching the Karma production phase and are excited about commercializing our innovative Q-Drive PHEV control systems," said Alan P. Niedzwiecki, president and CEO of Quantum. "Fisker Automotive has announced that production will begin at the end of calendar 2010 and plans on producing 15,000 Karma vehicles per year starting in calendar 2011."

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