FISKER AUTOMOTIVE ON TRACK FOR 2009 FOURTH QUARTER DELIVERY DESPITE
RECENT ALLEGATIONS

Irvine, California - April 24, 2008 - Today, Fisker Automotive, Inc.
announced that the company is on track for delivery of the Fisker Karma
in Q4 2009, and that it will vigorously defend the recent allegations
put forth by Tesla. Tesla Motors breached the arbitration agreement in
its contract with Fisker by filing these meritless claims in San Mateo
County court.

“The lawsuit is nonsense,” said Henrik Fisker, CEO, Fisker Automotive.
“Fisker Coachbuild has non-exclusive design contracts as shown by the
cars we have designed for a variety of manufacturers.”

Fisker Automotive launched the highly anticipated Fisker Karma, a
plug-in hybrid electric (PHEV) premium vehicle at the 2008 North
American International Auto Show. The revolutionary technology
incorporated into the powertrain was developed by Quantum Technologies,
a public company, which first proved its capability with the launch of a
U.S. military vehicle created for U.S. Army Special Operations in 2003.

“In January of 2007 I first met Henrik Fisker. Soon thereafter, I
became convinced that a strategic alliance joining together Quantum’s
(PHEV) unique technology position with Fisker’s design expertise could
be leveraged into a company capable of launching the first premium
sports sedan for the (PHEV) segment,” expressed Alan Niedzwiecki, CEO,
Quantum Technologies. “In August 2007 that vision became a reality with
the inception of Fisker Automotive Inc., effectively combining Quantum’s
(PHEV) drivetrain expertise with a remarkable design from Fisker
Coachbuild LLC.”

“We are confident that Fisker Automotive continues to be a tremendous
investment opportunity,” said Ray Lane, Kleiner Perkins. “The design
innovation of Henrik Fisker combined with the hybrid drive train
experience of Quantum is unique in the automotive market.”

The Fisker name for more than a decade has attracted and attained
worldwide recognition. Henrik Fisker has more than 19 years of
experience in the automotive and product design arena. Some of his
pioneering includes work on the BMW E-1 electric car in 1991, the BMW Z8
and the Aston Martin V8 Vantage. Most recently Fisker Coachbuild
created the Fisker Tramonto and Fisker Latigo CS in 2005.

“Fisker Coachbuild is proud of its premier reputation for design work
and we look forward to continuing to build on that reputation,” said
Henrik Fisker.