Call Henrik Fisker and Bernhard Koehler a couple of madmen.
Surely, that’s what they are, venturing into territory braved by few and profitable for even fewer.
The two longtime car guys,Fisker, who designed the Aston Martin DB9, and Koehler, the operations-minded of the pair,left the security of jobs at Ford Motor Co. to launch a car company, Fisker Coachbuild LLC in Newport Beach.
“It’s every car designer’s dream to do his own car,” Fisker said.
Their first-year plan: design two ultra luxurious sportscars and sell about 150 of them. The cars, designed for the superrich buyer who wants to stand out, are set to go for $180,000 to $250,000.
If all goes to plan, Fisker said the company could make 250 cars in year two.
“The whole market is moving toward high-end luxury,” he said. “There is a demand for real exclusivity.”
Fisker Coachbuild started in January with the backing of about 10 investors, including two from Orange County: an undisclosed real estate moneyman and Damon Shelly, owner of Shelly Automotive Group in Irvine, which has five dealerships.
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Aston Martin DB9, Fisker: “I love the beach and the sun. You have to feel happy about where you live and work” |
Fisker said the company’s car is set to make its debut at the auto show in Frankfurt, Germany, later this year. The first buyers can expect to receive their cars early next year, he said.
The cars are expected to sell mainly by word-of mouth, Fisker said. The duo plans to build them using local subcontractors.
Fisker, who hails from Denmark, and Koehler, who’s from Germany, have lived and worked around the world. But they easily tick off the reasons for setting up shop in pricey OC.
It’s car country, for starters. Many suppliers are in the area. And folks who can afford a $200,000 car live here.
There’s another reason why Fisker Coachbuild is here: “I love the beach and the sun,” Fisker said. “You have to feel happy about where you live and work.”
The undertaking is daunting on several fronts. A look at auto making history reveals many mavericks and upstarts and even more failures.
There’s the winged stainless steel DeLorean, created by John DeLorean, who mismanaged his company into the ground.
Then there was Vector Aeromotive Corp., which made about 20 Lamborghini-like cars that sold for $400,000. Then it ran out of money.
More recently, a company called Build-to-Order Inc., with lofty visions of building custom cars for the average Joe and selling them for about $25,000, never got off the ground.
In fact, few startups have made it to profitability. Fisker Coachbuild can take inspiration from one local role model, Irvine-based Saleen Inc., which has made and sold pricey custom Mustangs for 20 years.
Fisker said he sees an opening. Design is a weak point for automakers, he said.
Since 2003, Fisker, who prefers clay modeling to computer design, was director of Ford’s Global Advanced Design Studio in Irvine. He also headed design at Aston Martin, a Ford company.
One of his most popular works is the Aston Martin DB9, which goes for $160,000.
Prior to Ford, Fisker was chief executive of Designworks/USA, a Newbury Park arm of BMW AG. He also did design for BMW in Germany.
Koehler also has a design background. He started as a design sculptor at BMW and moved to Los Angeles in 1997 to become director of 3D services at Designworks USA. He moved into business development at Ford.
Fisker Coachbuild has its believers.
“Henrik is a very bright guy in addition to being a talented designer,” said Eric Noble, president of Orange-based CarLab Inc., which works with automakers on new vehicles.
Starting a company is not as big a stretch for Fisker, who is respected in the industry, according to Noble. DeLorean had no design experience, he said.
“Fisker’s experience is very different than that,” Noble said.
After Fisker left Ford, many thought a high-end design house would snap him up, Noble said. When Fisker turned up with his own company, everyone was stunned.
“It was a well kept secret,” Noble said.
Fisker’s success hinges on the “stomach and pocketbook” of its investors, according to Noble.
“Historically, car programs take twice as long and twice as much budget as expected,” he said.
Investor Shelly said he hasn’t even seen a sketch, but he’s sold.
“Henrik is a superb designer,” he said.
Shelly, whose group includes BMW dealerships, said he’s long been an admirer of Fisker’s work, which includes the BMW Z8 sportscar.
Shelly, who declined to disclose the amount of his investment, said another investor and mutual friend introduced him to Fisker. The risk is minimal, he said.
Fisker isn’t starting from scratch, Shelly said, and doesn’t have the cost of running his own factory.
“They’re really a design house,” he said. “If it doesn’t work, I’ve made a mistake.”
To be profitable, Fisker Coachbuild isn’t going to reinvent the wheel. Fisker plans to buy existing technology and concentrate on design, which is why it included Coachbuild in its name.
The company hasn’t settled on which luxury car chasis to use as the basis of its cars.
Coachbuilding is a tradition that began in the 1920s of putting different designs on the same chassis.
CarLab’s Noble said if Fisker succeeds, he will be renewing a tradition that was born in Southern California. Some of the early coachbuilt cars included the Duesenberg.
Fisker said he plans to use local contract fabricators, technicians and engineers. That way, he doesn’t have to pay a fulltime staff.
Beyond that, Fisker is mum on other plans.
“We have some secret ideas,” he said.
Fisker Coachbuild doesn’t plan to skimp on the fine touches. It can’t.
The target buyer expects luxury and a car that’s different. The car will be one of the fastest in the world with an interior as comfortable as an Italian couch, Fisker said.
Design “is one thing you can’t put a formula to,” he said.
Fisker said he wants the design to appeal to women, too.
Little advertising is planned. Marketing a custom car is much more “viral,” said Shelly, who plans to help sell the cars.
The cars are set to show up at auto shows. Every few months, Fisker said he plans to hold private invitation-only events.
The company is keeping a list of prospective buyers. The first 20 cars are sold, he said.
Fisker said he plans to make himself available to buyers.
“We can meet every single customer if they want,” he said.
Fisker and Koehler said their reputations are on the line.
“We left some pretty good jobs to do this,” Fisker said.
