Fisker Lost $30M Due to 300 Karmas Destroyed by Hurricane image

Fisker announced it had lost more than $30 million when Hurricane Sandy flooded a shipment of Karma plug-in hybrids.

When Hurricane Sandy hit the US East Coast, it had destroyed 300 Karma cars at a New Jersey port, each priced around $100,000. The automaker said that the cars were insured and that no impact should be expected from a business or a financial point of view. Fisker announced it will still be able to meet the US demand.
More than 10,000 vehicles, including the 300 Karmas, have been damaged at Port Newark during the storm.

Among the automakers affected by the disaster was Toyota, which lost 4,500 cars. New Jersey remains the hardest hit state, after the hurricane left 1 million businesses and households without electricity for 8 days.

The 300 Karmas destroyed by the flood were to be sent to US dealers. Among them 16 Fisker Karma hybrids burned to the ground after the hurricane’s water breached the port, submerging the vehicles, which then caught fire and exploded. It is still unclear how the vehicles caught fire after they were submerged in sea water. Officials believe that the sale water may have caused a short that led to the fire.