U.S.-based Fisker Automotive Inc. signs a deal with China Grand Automotive Group, billed as the No.1 car importer in China, to sell its Karma extended-range electric vehicle.
Executives from both sides formalized the non-exclusive agreement in Shanghai today that will allow China Grand to market Fiskers alongside the 40 brands, including Mercedes-Benz, BMW, Lexus and Lamborghini, it already sells through more than 200 retail stores.
Fisker’s Karma model will make its China debut at the Shanghai Motor Show in April. The auto maker says it has 3,000 pre-orders for the car worldwide and is projecting sales at 15,000 units per year globally. Chinese sales won’t begin until fall 2011.
Fisker also is developing a lower-priced, higher-volume car line, slated to start production at a former General Motors Co. plant in Wilmington, DE, in fourth-quarter 2012.
