Lutz Venture Aims to Debut Piston-Powered Karma in January

Detroit-area boutique carmaker VL Automotive aims to unveil a production version of its piston-powered Fisker Karma sedan and another body style in three months at the Detroit auto show.

The modified car, dubbed the Destino, also will replace the Karma's signature Cheshire-cat grinning grille with a more conventional design.

Fisker Automotive Inc. stopped making the $107,900 extended-range hybrid Karma more than a year ago after running short of cash. The company is trying to find a buyer to avoid liquidation.

VL Automotive co-founder Bob Lutz tells Automotive News his company has acquired and will convert 25 unsold Karmas by replacing their hybrid powertrain with an engine-transmission combination from the Chevrolet Corvette. Buyers will be able to choose between the standard 450-hp V-8 engine and 638-hp supercharged variant.

Lutz says VL will begin delivering the Destino in mid-2014 at a selling price of nearly $200,000.

VL also has secured access to enough body panels and cars without powertrains to continue production beyond 25 units, according to Lutz. He tells AN that the company also will offer to convert existing Karmas to Corvette power for about $100,000 each.

Last week Reuters reported that a Hong Kong-based investor group has successfully bid to assume Fisker's defunct loan from the U.S. Dept. of Energy. The sale, which DOE has not yet confirmed, would enable the investors to revive Fisker.