China Grand Automotive to sell Fisker's hybrid sports car in China
Fisker Automotive says it has formed a partnership with the China Grand Automotive Group to have its vehicles sold and serviced in China.
China Grand Automotive operates 400 dealerships which sell 40 brands, including luxury brands such as Mercedes-Benz, BMW, Lexus and Lamborghini.
This year, the dealer group's sales have topped 50 billion yuan ($7.5 billion).
The distribution agreement is a non-exclusive deal, according to Fisker Automotive's statement.
"With its vast network of experienced retailers, China Grand Automotive will give Fisker an instant and credible footprint in the region," Fisker said in a statement.
Fisker Automotive's first model, the Karma plug-in hybrid, will make its Chinese debut at the Shanghai motor show next April. With a total range of 483 km, the four-passenger Karma sedan can travel up to 80 km on electric power alone.
Although its hybrid powertrain generates 403 hp, the Karma emits only 83 grams of carbon dioxide per kilometer.
Worldwide, Fisker has received 3,000 pre-orders for the Karma. The company plans to sell 15,000 Karmas a year, and make its first Chinese deliveries next fall. The company did not announce China prices, although the Karma is expected to sell for about $100,000 in the United States.
China Grand Automotive is a joint venture launched in 2006 by Xinjiang Guanghui Industry Investment Co. and Newbridge Capital LLC., of Fort Worth Texas.
