Fisker Goes to Delaware

Fisker has made it official, have signed a letter of intent to buy the Delaware auto plant, formerly owned by GM. The 'affordable' plug-in hybrid vehicle they hope to build there will be the end result of Project NINA. Fisker estimates the plug-in hybrid sedan will cost $39,900 after federal tax credits (so, the MSRP will be $7,500 more than that).

Fisker executives made the announcement alongside Vice President Joe Biden, Delaware Governor Jack Markell and other state officials inside the plant.

Fisker hopes to begin production in 2012. They also estimate Project NINA will create or support 2,000 factory jobs and more than 3,000 vendor and supplier jobs by 2014, with 75,000 to 100,000 vehicles a year in production.

The Wilmington, Delaware plant was selected for its size, production capacity, world-class paint facilities, access to shipping ports, rail lines and available skilled workforce.

"This is a major step toward establishing America as a leader of advanced vehicle technology," said Henrik Fisker, CEO. "Wilmington is perfect for high quality, low volume production and will soon be the proud builder of world-class, fuel-efficient Fisker plug-in hybrids."

The cost to buy the plant is set at $18 million, and will happen after a four-month evaluation period. Fisker plans on spending another $175 to retool and refurbish the plant.

Funds for the plant are coming from the $528.7 Million loan from the Dept of Energy. The loan was given out as part of the $25 Billion Advanced Technology Vehicle Manufacturing program created by Congress.

"With our close-knit business, government, and educational communities and our potential to respond rapidly to new opportunities, today's announcement is a testament to what works best in Delaware. Fisker is a perfect partner in shaping Delaware's economic future, and we are thrilled that the vehicle that can reshape the automobile industry will be built here in Delaware, by Delaware workers." said Governor Jack Markell (D-Delaware).

Gary Casteel, UAW director responsible for the plant, said, "It gives me great pride to give UAW Local 435 workers the opportunity to partner with Fisker Automotive to create a greener America by building a plug-in hybrid car that will compete globally."