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Wanxiang Group to restart Fisker production

Published on February 24, 2014 by Tycho de Feijter

Wanxiang Group to restart Fisker production

China’s Wanxiang Group said Friday it plans to restart production of Fisker vehicles after it purchased the firm in a 150 million-dollar deal.  In the ‘coming months’ Wanxiang will restart building cars in the Valmet factory in Finland, and will start production in Fisker’s own manufacturing plant in Delaware, United States, which Fisker bought from General Motors in 2010.

A US court judge approved the deal in which Wanxiang purchased the bankrupt electric car maker based in California. In the next 18 months, Wanxiang aims to sell at least 1,000 Karma vehicles in the US and 500 in Europe. Fisker once dubbed Karma as the “world’s first high performance electric luxury vehicle”.

“Hybrid power cars have won recognition among consumers in the US, Europe and Japan, but the sale of such vehicles is still at the beginning in China,” said Lu Guanqiu, founder and chairman of Wanxiang Group. Wangxiang will focus on sales of hybrid power vehicles in the US and Europe, he added. In early 2013, Wanxiang Group purchased bankrupt US battery-maker A123 Systems for about $250 million. A123 batteries power the electric motor of the Fisker Karma.

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  1. Sunfueled- February 24, 2014 Reply

    You wrote an article about Fisker- right. So A123 Batteries are not in Tesla cars, they are build in Fisker cars only. So the right meaning of the last sentence in article should be:
    “..bankrupt US battery-maker A123 Systems for about $250 million. A123 batteries power the electric motor of the Fisker Karma.”
    The Tesla has a much more strong battery pack and is purely plug in electric. No tailpipe and zero emission. Powered by the sun, if you want http://www.youtube.com/watch?v=QweNsLesMrM . Take a 7 kWp PV panels on your rooftop, and you have your own fuel station for between easily 22000 and 30000km in Europe (taken the winter data from Tesla`s CROSS COUNTRY RALLY. Chinese sun is much stronger!
    Take the CROSS COUNTRY RALLY data for see
    tp://www.teslamotors.com/blog/cross-country-rally-numbers
    what is possible with a modern pure plug in, no tailpipe vehicle.

    1. Tycho de Feijter- February 24, 2014 Reply

      @Sunfueled. Checked & changed. Thank you for your comment!

    2. Dan- February 26, 2014 Reply

      the karma looks better then the Tesla S. And speaking of batteries, anyone who bought the Tesla Roadster, battery packs are $45K, ouch, half the cost of the car. interesting how Fisker got such bad press for putting out a high end hybrid, when the majority of Tesla S loaded out are at that cost or more

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