Irvine (CA) - Fisker is probably one of the most watched newcomers in the automobile industry, playing in one league with Tesla. The company’s plug-in hybrid "Karma" is making steady progress: the car is currently being tested and on schedule for a Q4 2009 delivery. Silicon Valley executives, get your checkbooks ready.

If the Tesla Roadster is too small for you and the Toyota Prius or Camry hybrids too normal, the Fisker Karma may be just what you are waiting for. Today we received a first true indication that this car won’t remain just a showmobile but in fact is headed to customers. Fisker today said that five prototypes of the sedan have been built and initial testing is taking place in Southern California.

"We are very excited about the initial test results of the Fisker Karma prototype," said Henrik Fisker, CEO of Fisker. "The vehicle dynamics and fuel economy have performed better than expected and we remain on target for our fourth quarter 2009 initial delivery."

The Karma will be a full hybrid vehicle that can be driven in electric-only mode with a range of up 50 miles and a top speed of 95 mph. A "small" gasoline engine puts the car into sport mode and lifts the peed to 125 mph. The acceleration performance is rated at less than 6 seconds for 0-60 mph.

The base price of the car will be about $80,000 in the U.S. and 80,000 Euro (about $123,000) in Europe. Fisker will be offering several extras such as solar panels to power the car’s air conditioner as well as solar panels to for your home that can be used to charge the car.

Despite a recent lawsuit that was filed against Fisker by Tesla, Fisker says that is on track to deliver the first cars by Q4 2009.