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Old 07-08-2014, 12:26 AM   #111 (permalink)
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Hoping to get the skinny tomorrow from our owner. As far as I know the conference call did take place. I also know they are actively rehiring some former employees whom I know (good ones). Things are brewing for sure.
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Old 07-08-2014, 08:13 AM   #112 (permalink)
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Looking forward to hearing the official skinny. My dealer here in ATL called and said they could now acquire the RDM I need direct from FISKER (my cost). They already had cost and shipping info from new Fisker.

Since I was already working with Lomax, put them on hold for now.
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Old 07-08-2014, 06:58 PM   #113 (permalink)
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Quote:
Originally Posted by AlJOHN View Post
Looking forward to hearing the official skinny. My dealer here in ATL called and said they could now acquire the RDM I need direct from FISKER (my cost). They already had cost and shipping info from new Fisker.

Since I was already working with Lomax, put them on hold for now.
AlJohn, are you bringing Lormax to the ATL? If so, let me know. I'd love to have a spa day for my car too (oil/filter, general diagnostics, etc) and I'm sure some others would too.

Also, did the FofA people say that they were going to resume being a Fisker dealer and service center?

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Old 07-10-2014, 09:10 AM   #114 (permalink)
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Default New fisker customer support program announced

The terms of the 2 part Customer Support Program have been filed with the Bankruptcy court. (Sorry for the long post)

The Customer Support Program shall consist of a Limited Warranty
Program and a Customer Loyalty Program on the following terms:
I. Limited Warranty Program
· The Purchaser shall assume and agree to honor the obligations of
the Debtors to owners of Fisker Karma vehicles under the terms
of the Warranty Agreements in an amount not to exceed (i)
$2,000 per vehicle or (ii) $1,400,000 in the aggregate. The
Limited Warranty Program shall cover the cost of both
replacement parts and labor (at the standard rates of the dealer,
distributor or retailer providing vehicle repair services under the
Customer Support Program (collectively, the “Participating
Dealers”)) up to a $2,000 cap per vehicle or the $1,400,000 cap
in the aggregate.
· The Limited Warranty Program shall be available to all owners
of the Fisker Karma in North America and Europe who were
parties to a Warranty Agreement as of the Petition Date. Any
Participating Dealers who were owners of Fisker Karma vehicles
and parties to a Warranty Agreement as of the Petition Date shall
be eligible to participate in the Limited Warranty Program as the
owners of such vehicles. Any owners who purchased their
vehicles after the Petition Date shall not be eligible to participate
in the Limited Warranty Program unless such owners purchased
their vehicles from Participating Dealers that otherwise would
have been eligible to participate in the Limited Warranty
Program with respect to such vehicles.
· The availability of replacement parts and warranty repairs under
the Limited Warranty Program shall be governed by the terms of
the applicable Warranty Agreement, subject to any modifications
to the provisions thereof as may be set forth in the Customer
Support Program Policies and Procedures Manual (the
“Customer Support Program Manual”), provided that all
warranty coverage under the Limited Warranty Program shall
end on January 31, 2016.
II. Customer Loyalty Program
· In addition to the Limited Warranty Program, the Purchaser shall
also provide a Customer Loyalty Program for certain owners of
Fisker Karma vehicles in North America and Europe.
· Under the Customer Loyalty Program, the owners of Fisker
Karma vehicles who are holding filed or scheduled Warranty
Claims against the Debtors (collectively, the “Claimholder
Owners”) that do not opt out of the Customer Support Program
under the Modified Plan (collectively, the “Participating Owner-
Claimants”) shall be entitled to receive, in addition to the
warranty coverage they are entitled to receive under the Limited
Warranty Program, (i) an amount not to exceed $4,000 per
vehicle of replacement parts to be provided by the Purchaser free
of charge in accordance with the terms of the Customer Support
Program Manual and (ii) an amount not to exceed $2,000 per
vehicle for related labor to be provided by the Participating
Dealers free of charge to the Participating Owner-Claimants.
The Purchaser shall reimburse the Participating Dealers for the
first $1,000 of related labor provided to each Participating
Owner-Claimant, and the Participating Dealers shall provide up
to another $1,000 of related labor to each Participating Owner-
Claimant free of charge. Labor charges in excess of $2,000 per
Participating Owner-Claimant shall be subject to negotiation by
the Participating Dealers and the Participating Owner-Claimants,
provided that each Participating Dealer’s obligation to provide
labor free of charge to the Participating Owner-Claimants shall
be capped at $2,000 per Participating Owner-Claimant. The
Purchaser shall provide the replacement parts to the Participating
Dealers free of charge, subject to the $4,000 cap per vehicle for
replacement parts (to be calculated at the Purchaser’s cost). The
Participating Owner-Claimants shall be identified in the
Customer Support Program Manual by name and VIN number.
· In addition, under the Customer Loyalty Program, any original
owner of a Fisker Karma that is not one of the 149 Claimholder
Owners shall also be entitled to receive, in addition to the
warranty coverage such owner would otherwise be entitled to
receive under the Limited Warranty Program, (i) an amount not
to exceed (a) $2,000 per vehicle of replacement parts to be
provided by the Purchaser free of charge in accordance with the
terms of the Customer Support Program Manual or (b) $750,000
in the aggregate for such replacement parts, and (ii) an amount
not to exceed (a) $1,000 per vehicle for related labor to be
provided by the Participating Dealers free of charge to the
owners or (b) $2,500,000 in the aggregate for such related labor.
The Purchaser shall reimburse the Participating Dealers for the
first $500 of related labor provided to each eligible owner, and
the Participating Dealers shall provide up to another $500 of
related labor to each eligible owner free of charge. Labor
charges in excess of $1,000 per eligible owner shall be subject to
negotiation by the Participating Dealers and the eligible owners,
provided that each Participating Dealer’s obligation to provide
labor free of charge to the eligible owners shall be capped at
$1,000 per eligible owner. The Purchaser shall provide the
replacement parts to the Participating Dealers free of charge,
subject to the $2,000 cap per vehicle and the $750,000 cap in the
aggregate (to be calculated at the Purchaser’s cost).
· Any Participating Dealers who are the original owners of Fisker
Karma vehicles shall be eligible to participate in the Customer
Loyalty Program as the owners of such vehicles. Any owners
who purchased their vehicles after the Petition Date shall not be
eligible to participate in the Customer Loyalty Program unless
such owners purchased their vehicles from Participating Dealers
that otherwise would have been eligible to participate in the
Customer Loyalty Program with respect to such vehicles.
· The availability of replacement parts and repairs under the
Customer Loyalty Program shall be governed by the terms of the
applicable Warranty Agreement, subject to any modifications to
the provisions thereof as may be set forth in the Customer
Support Program Manual, provided that all coverage under the
Customer Loyalty Program shall end on January 31, 2016.
The Participating Owner-Claimants shall have the right to transfer their
warranty coverage under the Limited Warranty Program and the benefits
they are eligible to receive under the Customer Loyalty Program to any
subsequent owners of their vehicles. With respect to all other owners,
the warranty coverage under the Limited Warranty Program and the
benefits provided under the Customer Loyalty Program shall not be
transferable.
The obligation to provide replacement parts under the Customer Support
Program shall be subject to such parts being available to the Purchaser
on reasonable commercial terms.
On the Effective Date, the Purchaser shall receive Cash in the amount of
$750,000 multiplied by the “Claimant Ratio” (the “Purchaser Warranty
Payment”) from the Liquidating Trust in consideration for its agreement
to make the Customer Support Program available to the Claimholder
Owners. The numerator of the Claimant Ratio shall equal the number of
Participating Owner-Claimants; provided, however, that the numerator
of the Claimant Ratio shall equal 149 if fewer than 10 Claimholder
Owners opt out of the Customer Support Program under the Modified
Plan. The denominator of the Claimant Ratio shall equal 149.
No portion of the Purchaser Warranty Payment shall be refundable to
the Liquidating Trust under any circumstances. The Purchaser shall
have no other recourse to the Liquidating Trust Assets, the Hybrid Cash
Distribution, the Priority Claims Reserve or the Professional Fee Escrow
on account of any of the costs incurred by the Purchaser in connection
with the Limited Warranty Program or the Customer Loyalty Program
on or after the Effective Date.
As a condition to their participation in the Customer Support Program,
the Participating Dealers shall be required to affirmatively agree not to
assert or pursue any Warranty Claims arising on or after the Effective
Date against the Debtors or the Liquidating Trust. The Confirmation
Order shall provide that any estimated Warranty Claims asserted by the
Participating Dealers for the period starting on the Effective Date shall
automatically be deemed to have been disallowed without the need for
any further action by the Debtors or the Liquidating Trust.
The Purchaser’s obligations to owners and Participating Dealers under
the Customer Support Program shall only apply to warranty repairs that
are performed between September 1, 2014 and January 31, 2016.
Freight costs incurred by the Purchaser in shipping replacement parts to
the Participating Dealers shall count against the applicable caps under
the Limited Warranty Program and the Customer Loyalty Program.
Under the Modified Plan, the terms of Section 1.10 of the Purchase
Agreement shall be deemed to have been modified to obligate the
Purchaser to make the Limited Warranty Program and the Customer
Loyalty Program available on the terms set forth in the Modified Plan.
Any Claimholder Owner that elects to opt out of the Customer Support
Program shall not be eligible to participate in either the Limited
Warranty Program or the Customer Loyalty Program.
For the avoidance of doubt, subject to Article IX of the Modified Plan,
nothing in the Modified Plan or the Customer Support Program shall
limit any rights or remedies that the Fisker Karma owners may be
entitled to assert or pursue against any parties other than the Debtors, the
Liquidating Trust, or the Purchaser.
The definitive terms and conditions of the Limited Warranty Program
and the Customer Loyalty Program shall be set forth in the Customer
Support Program Manual, which shall be consistent with the terms
hereof in all respects and otherwise reasonably acceptable to the
Purchaser, the Debtors and the Committee. The form of the Customer
Support Program Manual shall be filed with the Bankruptcy Court no
later than five (5) business days prior to the Confirmation Hearing.
Each Participating Dealer shall be required to affirmatively agree to be
bound by the terms of the Customer Support Program Manual.
The Confirmation Order shall require the Purchaser to provide periodic
reports to the Liquidating Trust, no less frequently than every six (6)
months after the Effective Date, of the warranty claims submitted by the
Participating Owner-Claimants and the funds expended by the Purchaser
in providing replacement parts to the Participating Owner-Claimants and
funding the related labor costs in accordance with the Customer Support
Program Manual.
In accordance with the terms of the Final Order approving the Sale
Transaction (the “Sale Order”), the Confirmation Order shall provide
that, except as otherwise expressly set forth in the Modified Plan or the
Customer Support Program, the Purchaser shall have no liability to any
owner of a Fisker Karma vehicle with respect to any Warranty
Agreement or any other express or implied warranty obligation or
product liability claim relating to such vehicle.
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Old 07-10-2014, 10:58 AM   #115 (permalink)
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Quite a lot to wade through but here are a couple of things that stuck out (to me):

1. If I'm reading this right, only 149 owners bothered to file a claim. Further, only those 149 owners are eligible for any of this warranty support / customer loyalty at all. Is that right??

2. In addition to the max of $2,000 in warranty repairs, the purchaser has now kicked in up to $4,000 in parts as part of a "Customer Loyalty Program". Nice.

That's about as far as I got before my eyes glazed over. :/
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Old 07-10-2014, 12:01 PM   #116 (permalink)
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I think the warranty is for all current KARMA owners from 2k to 4k?
I could be wrong and it's only for the owners filing claim previously.
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Old 07-10-2014, 12:16 PM   #117 (permalink)
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Quote:
Originally Posted by EXOTIC1 View Post
I think the warranty is for all current KARMA owners from 2k to 4k?
I could be wrong and it's only for the owners filing claim previously.
I think if you're not one of the 149 claimant, you have to be the original owner.

In addition, under the Customer Loyalty Program, any original
owner of a Fisker Karma that is not one of the 149 Claimholder
Owners shall also be entitled to receive, in addition to the
warranty coverage such owner would otherwise be entitled to
receive under the Limited Warranty Program, (i) an amount not
to exceed (a) $2,000 per vehicle of replacement parts to be
provided by the Purchaser free of charge in accordance with the
terms of the Customer Support Program Manual or (b) $750,000
in the aggregate for such replacement parts, and (ii) an amount
not to exceed (a) $1,000 per vehicle for related labor to be
provided by the Participating Dealers free of charge to the
owners or (b) $2,500,000 in the aggregate for such related labor.
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Old 07-10-2014, 12:35 PM   #118 (permalink)
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Wow... That is a lot to wade through. If we have filed a claim, does anyone have any suggestions on how to return the latest set of BK documents due next week? And what happens if we don't sent them in? (I've been out of town and haven't been home to read them.)
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Old 07-10-2014, 12:41 PM   #119 (permalink)
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I'm confused -- does the 149 mean the folks who filed a claim with the BK creditors? i'm told there is a choice for those owner to take part in the warrenty or postion of the claim based on settlement ? can someone with a legal background give us a bottom line as to what this mens in laymens terms? would be helpfull to us all
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Old 07-10-2014, 12:46 PM   #120 (permalink)
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UPS just dropped the documents at my front door. I would expect 148 of you should get something too.
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