Irvine, Calif., September 7, 2010 — Quantum Fuel Systems Technologies Worldwide, Inc. won a $30 million purchase order for supplying key components and subsystems related to Quantum’s proprietary Q-Drive powertrain systems for the Fisker Karma production program under the terms of its supply agreement.
Under this first-release production purchase order, Quantum will supply components and systems to support the early vehicle builds that will ramp up to production volumes in 2011.
Quantum recently signed a Supply Agreement with Fisker Automotive to supply key components and control systems for the Q-Drive powertrain system that is being incorporated into the Fisker Karma.
“Quantum is excited to be receiving a volume production order from Fisker and supporting the introduction of this luxury high performance plug-in hybrid sedan,” said Alan P. Niedzwiecki, the President and CEO of Quantum.
Fisker Automotive, the green American car company that Quantum co-founded, closed a Department of Energy loan for $528.7 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, including the Karma, a four-door sports sedan, and a line of family-oriented models being developed under Fisker’s Project Nina program.