Quantum Fuel Systems Technologies (QTWW) Announces Supply Agreement With Fisker

Quantum Fuel Systems Technologies Worldwide just announced that they have a signed a definitive supply agreement to provide Fisker Automotive with parts for the Q-Drive(TM) powertrain system that Fisker is using in the Fisker Karma. Per the agreement, Quantum Fuels will be the exclusive provider for the Q-Drive(TM) hybrid control systems and the solar roof module. Fisker has also agreed to pay Quantum a royalty payment for each Karma sold.

In a press release, Alan P. Niedzwiecki, the President and CEO of Quantum, commented on the agreement:

“We are quickly approaching the Karma production phase and are excited about commercializing our innovative Q-Drive PHEV control systems. 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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