Fisker Automotive – Project Nina Coming 4th Quarter of 2012

Fisker Automotive has come to an arrangement with mainland Chinese company China Grand Automotive Group to have its vehicles sold, marketed and serviced in China. China Grand Automotive Group has over 200 stores across China selling 40+ brands including Lamborghini and Mercedes, these are exactly the kinds of automakers Fisker wants to be rubbing shoulders with, especially in the worlds largest car market.

Interestingly Fisker added the line “Fisker is also developing a higher-volume line of premium electric vehicles with extended range, scheduled to start production in the fourth quarter of 2012.” at the bottom of their press release. We had been expecting the Project Nina cars to begin production in the 3rd quarter of 2012 at Fiskers new plant in Delaware.

Investors who have seen renderings of the Project Nina cars all seem to have come away impressed, they speak of a sedan that is slightly smaller than the Fisker Karma and an electric SUV tentatively called the “Surf”.

The cars are expected to be far cheaper than the Karma and will compete with cars like the Chevy Volt and possibly the Nissan Leaf.

Stay tuned for more news as it comes in!

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Fisker Automotive Press Release

SHANGHAI (Dec. 15, 2010) Fisker Automotive, the California manufacturer of premium electric vehicles with extended range, has partnered with the China Grand Automotive Group, the number one passenger car trader in China, to have its vehicles distributed, marketed and serviced in the region.

Executives from Fisker and China Grand Auto (CGA) formalized the non-exclusive agreement during a ceremony near CGA headquarters in Shanghai today. CGA has a network of more than 200 retail stores carrying 40 brands including Mercedes-Benz, BMW, Lexus and Lamborghini. In 2010 the company reached sales of RMB 50B (USD 7.5B).

The rapid growth of auto sales, particularly within the luxury segment, combined with the country’s effort to minimize carbon emissions makes China an excellent market for Fisker Automotive, a company that believes environmentally conscious cars can deliver passion, style and performance.

“We are extremely proud to be working with CGA to support Fisker Automotive in the fast-emerging Chinese market,” said Henrik Fisker, CEO, Fisker Automotive. “With its vast network of experienced retailers CGA will give Fisker an instant and credible footprint in the region. CGA’s attention to detail and excellent customer service will ensure Fisker buyers receive the level of service and peace of mind expected of a premium brand.”

Fisker Automotive’s first car, the Fisker Karma, will make its Chinese debut at the Shanghai Motor Show in April 2011. The Karma represents Fisker Automotive’s vision of responsible luxury and is the world’s first true electric vehicle with extended range.

The Karma combines world class style and performance with industry leading economy and the lowest emissions of nearly any production vehicle. With a total range of 483 km (300 mi) the four-passenger Karma saloon is capable of traveling 80 km (50 mi) on emission-free electric power alone, and an additional 403 km (250 mi) on low-emission hybrid electric power.

About 3,000 pre-orders for the Karma have already been placed by eager customers around the world. The company plans to sell 15,000 Karma vehicles per year globally. Initial Chinese customer deliveries are expected to take place in the fall.

Fisker is also developing a higher-volume line of premium electric vehicles with extended range, scheduled to start production in the fourth quarter of 2012.

This partnership with CGA brings to five the number of Fisker importers developing comprehensive retail networks that will provide consumers around the world convenient access to the company’s stylish, environmentally conscious vehicles.

Fisker’s North American network consists of 42 retailers in 45 locations from coast to coast.

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