"A couple of years ago, I was probably one of those car enthusiasts who was really worried that in the future we were going to drive around in one of those tiny little  two-seater electric cars with 25 hp," explains Henrik Fisker, the lead designer and head of Fisker automotive.

His answer, the Fisker Karma, is here in production form and is apparently on track for launch late this year. The plans are ambitious: 15,000 units, and a starting MSRP of $87,900. That plants the plug-in hybrid luxury sedan squarely in a growing field of supersedans, including the Aston Martin Rapide and Porsche Panamera. Fisker also names the BMW 7-Series and Maserati Quattroporte.

That's tough competition for a startup, especially in this unfriendly market, but Fisker remains confident. In fact, his entire team seems to display unbridled optimism when talking about their company's prospects - quite a contrast to the rather depressing outlook many automaker employees are sharing these days ("It's dire," offered one spokesperson when I tepidly asked him how it was going inside his company).

"I think this could be a game changer," said powertrain engineer Paul Boskovitch, who found his way to Fisker from General Motors after working on projects like the EV1, the Two-Mode hybrids, and the Volt. He helped integrate the Karma's "Q-Drive" propulsion system (named for developer Quantum Technologies). It uses a 2.0-liter turbocharged Ecotec four-cylinder (found in the Pontiac Solstice) to power two electric motors along with a pack of lithium-ion batteries. The engine is mid-mounted, while the motors sit in back between the rear wheel axles, ensuring a near 50/50 weight distribution. Boskovitch estimates total output to be about 400 hp and more than 1000 lb-ft of torque. That enables the full-size Karma to go from 0-60 in as little as 5.8 seconds. Driven less agressively, it will travel about 50 miles on battery power alone.

Beyond the engine and some know-how, there's actually quite a bit of GM under the car's sinewy skin, helping it reach its agressive price point. Most of the standard automotive components, from the steering column and HVAC to the window regulators come from GM's parts bin.

"Bob Lutz personally came when we unveiled the prototype...and said, 'We're going to help you guys,'" Fisker added.

But look at the Karma, and you won't mistake it for a Chevy Cobalt - or a Volt, for that matter. The sedan on display is actually a "sport" model, which  will go for about $94,900,  meaning its interior is covered in pastel-colored Aniline leather taken from "mature" free range cows. Color and materials designer Fairuz Jane Schlecht, who worked on the Lincoln MKZ and Ford Edge beofre coming to Fisker, said the interior tries to balance acountabilty and sensuality. To that end, all the materials are either recycled - like the dead wood used for trim - or renewable and natural - like the lamb's wool used for floormats. The even pricier Karma Chique will eliminate all animal materials.

The Karma sedan will be built in Finland alongside a production line that puts out Porsche Boxsters. Fisker said most preorders have come from Southern California - rather appropriate for a brand who's emblem is a Pacific coast sunset.

Stay tuned for info on the Karma convertible, set to be unveiled later today.