Fisker Automotive, Inc., a plug-in hybrid car venture, announced that Valmet Automotive will manufacture its first production car, the Fisker Karma.
Valmet Automotive, which is part of the Finland-based Metso Corporation, is known for producing specialty cars like the Porsche Boxster and Cayman for Porsche AG
Initial domestic deliveries of the Karma, will commence in 4Q09 in
North America, with planned delivery to Europe in 2010. Fisker
Automotive's annual production is projected to reach 15,000 cars, with
more than half of sales expected to be overseas.
Fisker Automotive said the Karma will have 50 miles of electric range and more than 350 miles of total range and the potential for a fuel economy of over 100 miles per gallon (MPG). The vehicle has a powertrain developed by Quantum Technologies (Nasdaq: QTWW) and is poised to be the world's first true luxury plug-in hybrid sports sedan.
"After an exhaustive global search, we are thrilled to have found the ideal manufacturing partner in Valmet Automotive," said Fisker Automotive CEO, Henrik Fisker. "Valmet offers us the quality and speed necessary to meet our production goals and given that more than half of Fisker Automotive's sales are expected to be outside of North America, Valmet represents an ideal international foothold. We do have a strategic plan to utilize an American manufacturing site for future models of the Fisker Karma."
