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Fisker Automotive Signs Contract with Valmet to Build Four-Door Plug-in Hybrid

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IRVINE, Calif. — Fisker Automotive, Inc., a green American car company, has contracted Valmet Automotive to manufacture its first production car, the Fisker Karma.

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Known for producing high quality specialty cars like the Porsche Boxster and Cayman

for Porsche AG, the Finland-based contract manufacturer brings to the Fisker Karma 40 years of experience of working with OEM customers and their wide ranging engineering and production needs.

When the Fisker Karma begins rolling off the Valmet assembly line in the fourth quarter of 2009, the company believes it will be the first ever plug-in hybrid 4 door sports sedan to hit the market. With 50 miles of electric range and more than 350 miles of total range, the Fisker Karma with its proprietary Q-DRIVE powertrain developed by Quantum Technologies, will have the potential for a fuel economy of over 100 miles per gallon (MPG) on extended drives. Boasting a top speed of 125mph and 0-60 acceleration in less than 6 seconds, the Fisker Karma is being billed as "the world’s first true luxury plug-in hybrid sports car."

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Initial domestic deliveries of Fisker Automotive’s first car, the Karma, will commence in the fourth quarter of 2009 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.

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