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Fisker Automotive: US Site Chosen To Build Family Hybrid

By Josh Mitchell, Of DOW JONES NEWSWIRES

WASHINGTON -(Dow Jones)- California startup Fisker Automotive Inc. will announce soon the U.S. site where it plans to build a $48,000 family plug-in electric hybrid car, Chief Executive Henrik Fisker said Tuesday.

The company has reached a deal to build an estimated 100,000 cars annually of the yet-to-be-named model at a refurbished plant in the U.S., Fisker said at an entrepreneurs conference in Washington.

The car is expected to hit the market in 2012 and would be the company's second plug-in hybrid to do so under existing plans. The Fisker Karma, an $89, 000 luxury hybrid being built in Finland, is expected to hit the U.S. market next summer.

Fisker recently was awarded a $528 million U.S. Department of Energy loan to develop the two vehicles.

Henrik Fisker, who designed cars for BMW and Aston Martin before starting his company, didn't reveal where the family hybrid would be built. An executive at an investment company that has provided capital to Fisker told Dow Jones Newswires recently that the company was looking at old plants in Delaware and California.

-By Josh Mitchell, Dow Jones Newswires; 202-862-6637; joshua.mitchell@ dowjones.com

  (END) Dow Jones Newswires
  10-20-091043ET
  Copyright (c) 2009 Dow Jones & Company, Inc.