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Irvine-based Fisker set to buy Delaware plant
Luxury green automaker will use former GM facility to build affordable plug-in hybrids.
By Kristen SchottPublished: October 27, 2009 09:43 AM
Irvine-based Fisker Automotive is moving forward with plans to buy the Wilmington Assembly plant in Delaware to manufacture its plug-in hybrid autos. Fisker execs made the announcement this morning at the inoperative facility. They were joined by Vice President Joe Biden and Delaware Gov. Jack Markell, among other state officials.
Fisker has signed a letter of intent with Motors Liquidation Co., which was previously known as General Motors, to purchase the plant for $18 million after a four-month evaluation period. An additional $175 million will be used to renovate the facility over the next three years. The money will come from the Department of Energy's $528.7 million conditional loan, which was granted in September.
The luxury green automaker's headquarters will remain in Irvine, according to company spokesman Russell Datz, and the facility will be used for its Project NINA. The program calls for the development and production of an affordable, family-oriented plug-in hybrid sedan. This particular model is expected to cost $39,900 after federal tax credits.
"This is a major step toward establishing America as a leader of advanced vehicle technology," says Fisker CEO Henrik Fisker.
The Wilmington space was chosen for its large size, production and paint capabilities, and access to shipping ports and rail lines, among other features.
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Fisker has signed a letter of intent with Motors Liquidation Co., which was previously known as General Motors, to purchase the plant for $18 million after a four-month evaluation period. An additional $175 million will be used to renovate the facility over the next three years. The money will come from the Department of Energy's $528.7 million conditional loan, which was granted in September. The luxury green automaker's headquarters will remain in Irvine, according to company spokesman Russell Datz, and the facility will be used for its Project NINA. The program calls for the development and production of an affordable, family-oriented plug-in hybrid sedan. This particular model is expected to cost $39,900 after federal tax credits. "This is a major step toward establishing America as a leader of advanced vehicle technology," says Fisker CEO Henrik Fisker. The Wilmington space was chosen for its large size, production and paint capabilities, and access to shipping ports and rail lines, among other features. NEXT PAGE >> Related headlines Irvine's Quantum introduces diesel hybrid electric drive system Santa Ana's Behr reaches settlement with EPA Irvine's LPA, NASA and JPL rocket to LEED Gold status 'OC METRO Minute,' Tresor Properties begins construction on first LEED homes on state's coast |
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