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SHANGHAI — Electric car maker Fisker Automotive plans to sell its luxury Karma model in China, teaming up with a local distributor of top auto brands.
Irvine, California-based Fisker has reached an agreement with vehicle retailer and service provider China Grand Automotive Group to sell Fisker vehicles in its more than 200 outlets, which carry such brands as Mercedes-Benz, Lexus and Lamborghini.
The Fisker Karma is due to debut in China at the Shanghai Auto show next April and to begin deliveries by the autumn, the company said in a release seen Thursday on its website. The hybrid sedan has a total range of 483 kilometers (300 miles) and can travel 80 kilometers (50 miles) on electricity alone.
The first factory built Karma debuted at the Paris auto show in October.
"With its vast network of experienced retailers CGA will give Fisker an instant and credible footprint in the region," said Henrik Fisker, Fisker's CEO.
He said China's fast growing market and keenness to reduce smog make it a good potential market for Fisker. Though most Chinese car buyers purchase economy or mid-range vehicles, there is a relatively large and growing pool of affluent car aficionados who opt for flashy luxury sedans and sports cars.
China is promoting use of electric vehicles with subsidies and other incentives, but has yet to construct a widespread system of charging stations and other infrastructure — one factor behind the relatively low level of interest so far in purchasing electric and hybrid vehicles in a market that is forecast to grow 30 percent this year.
China Grand Automotive, one of five international distributors for Fisker, estimates its 2010 sales at 50 billion yuan ($7.5 billion). The company is a joint venture between Xinjiang Guanghui Industry Investment (Group) Co., a diversified property and energy group, and Texas-based private equity firm TPG Newbridge Capital LLC.
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Online:
http://www.fiskerautomotive.com
