VL Destino Faces Uncertain Fisker Future For Its Non-Electric Karma

Engine swaps are one thing; complete powertrain replacements are another.

But if your business is yanking range-extended electric running gear out of a stunning-looking car from a now-bankrupt company, and replacing it with Corvette power, there are two ways you can go.

Swaps, new cars

You can wait for the limited universe of Fisker Karma owners--about 2,000 or so--to need new powertrains, or you can buy unfinished bodies from the company itself and sell them as brand-new Destinos.

Detroit-based VL Industries is pursuing both approaches. But the uncertainty around the ultimate fate of Fisker Automotive requires the company, as an executive told us, "to stay friends with everyone" in the process.

Last Friday, a bankruptcy-court judge in Delaware ordered that the bankrupt Fisker be auctioned off, rather than approving the prearranged sale to Hybrid Technology Holdings that Fisker itself pushed for.

That decision followed after a last-minute bid by Chinese auto-parts conglomerate Wanxiang, which now owns A123 Systems, Fisker's supplier of lithium-ion battery packs for the Karma.

Hybrid Tech then raised its bid to $55 million, from $25 million, indicating that perhaps the remains of the company are worth more than first thought.

Destino convertible nee Karma Sunset

At this week's Detroit Auto Show, VL unveiled a concept for a possible second VL Destino model, a two-door hardtop convertible with a retractable folding top, which it presented as the Destino Red Concept.

VL cofounder and marketing executive Gabe Villarreal confirmed to Green Car Reports that the vehicle shown in Detroit was the actual concept shown in 2009 as the Fisker Karma S--later dubbed the Sunset--with new panels to give it the Destino look.

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