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Fisker Confirms Plans to Buy GM Plant

Delaware factory will produce second-gen plug-in hybrids

by on Oct.27, 2009

Fisker Automotive has confirmed it will purchase GM's old Wilmington assembly plant to produce a line of plug-in hybrids codenamed Project Nina.

Fisker has confirmed it will purchase GM's Wilmington plant to produce plug-in hybrids code-named Nina.

Fisker Automotive, a California-based start-up, will purchase General Motors’ shuttered Wilmington, Delaware assembly plant and begin producing a new line of “affordable” plug-in hybrids at the facility, starting in 2012, the company confirms.

As reported yesterday, word of the purchase had leaked out, with Vice President Joe Biden, a former Delaware Senator, scheduled to attend the formal Tuesday morning announcement.

Fisker is the eponymous creation of Danish designer Henrik Fisker, a former stylist for Ford and best known for his work at the British luxury sports car manufacturer, Aston Martin.  His firm plans to begin producing its first plug-in, the $87,900 Karma sports car, next year.

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Karma will be produced by the Finnish automotive specialty manufacturer, Valmet, but Fisker will produce the next plug-in on its own, in part as a requirement to get $528.7 million in federal loans drawn from a fund created to encourage the development of high-mileage and alternatively-powered automobiles, the $25 billion Advanced Technology Vehicle Manufacturing program.