Published on March 26th, 2014 | by Christopher DeMorro
Wanxiang Buys Delaware Fisker Factory For $18 Million
With the purchase of the former GM assembly plant in Delaware, Wanxiang may finally make good on Fisker’s promise to produce cars right here in America. It’s been a bumpy road for Fisker, but things are finally looking up as it seems the automaker has fallen into the hands of the right buyer. Perhaps now it can become the company Henrik Fisker dreamed it could be.
The assembly plant, located near Newport, was sold to Wanxiang for $18 million, the same price Fisker paid for it in 2010, generating $270,000 in taxes for both the county and the state. The purchase of the factory is the last puzzle piece, besides the Fisker name itself, to restart production of the Fisker Karma. Last month, Wanxiang paid $149 million for the bankrupt automaker, and it already owns Fisker’s battery maker, A123 Systems.
With the factory in place, and a deal with Bob Lutz’s VL Automotive taking shape, production of the Fisker Karma could resume within a year. Fisker had promised, as part of its green loan, to build cars right here in America, but the first few thousand Karmas were built in Finland, and the company went bankrupt before the Delaware plant ever came online. Obviously this upset county and state officials, nevermind investors who are out of more than a billion dollars.
Wanxiang seeks to rectify that the plant purchase, though until the first new Fiskers roll off the assembly line, I’ll maintain a certain level of bitter resentment. The Fisker Karma was all hype and no substance, and at the end of the day it looks like the Karma will become another gas-guzzling toy for the wealthy.
But hey, at least it’ll be made in America…right?
Source: Delaware Online