Fisker Automotive, Inc. and Valmet Automotive have reached an agreement whereby the latter company will produce the former company's newest car on its assembly line in Finland. The Fisker Karma is an all-electric sports sedan that will become available for sale in late 2009, a car that will be sold throughout Europe and North America.
A new body welding line will be built at Valmet Automotive exclusively for the Fisker Karma. A painting and assembly process will also be adaptable for the production of electric and hybrid cars.
"The agreement is very significant for us and our employment situation in the years to come," says Ilpo Korhonen, President of Valmet Automotive. "With the planned full production volume, the cooperation with Fisker Automotive will employ some 500 blue collar workers at Valmet Automotive."
"Fisker Automotive and Valmet Automotive make a great, professional team. The schedule is demanding, but I'm confident that with good cooperation the production will start on schedule. A hybrid drive train, battery technology and a new body design with light weight materials is a great challenge to our engineering and production teams. Our supplier quality management team is also involved in the project," said Ilpo Korhonen, President of Valmet Automotive.
"We are pleased with the current progress in this working relationship and know that we have the team that will help us meet our production goal," said Fisker Automotive COO, Bernhard Koehler.
"We are very pleased to have the final contract signed and are looking forward to a long business relationship with Valmet," said Fisker Automotive CEO, Henrik Fisker.
The Fisker Karma made its debut at the 2008 North American International Auto Show in Detroit. Since then, there has been much speculation as to when and where the car would be built although Mr. Fisker indicated that Finland was the company's choice. Valmet Automotive has been building specialty cars at its Uusikaupunki, Finland factory for years, most recently the Porsche Boxster and Cayenne for Porsche AG.
Fisker expects to produce as many as 15,000 of its $80,000 sports sedan annually; the Finnish factory will add 500 jobs as a result of Fisker production.