Fisker Automotive and China Grand Automotive Group to Bring Electric Vehicles to China

Fisker Automotive, the California manufacturer of premium electric vehicles with extended range, has partnered with the China Grand Automotive Group, the number one passenger car trader in China, to have its electric vehicles distributed, marketed and serviced in the region.

Executives from Fisker and China Grand Auto (CGA) formalized the non-exclusive agreement during a ceremony near CGA headquarters in Shanghai today. CGA has a network of more than 200 retail stores carrying 40 brands including Mercedes-Benz, BMW, Lexus and Lamborghini. In 2010 the company reached sales of RMB 50B (USD 7.5B).

The rapid growth of auto sales, particularly within the luxury segment, combined with the country’s effort to minimize carbon emissions makes China an excellent market for Fisker Automotive, a company that believes environmentally conscious cars can deliver passion, style and performance.

“We are extremely proud to be working with CGA to support Fisker Automotive in the fast-emerging Chinese market,” said Henrik Fisker, CEO, Fisker Automotive. “With its vast network of experienced retailers CGA will give Fisker an instant and credible footprint in the region. CGA’s attention to detail and excellent customer service will ensure Fisker buyers receive the level of service and peace of mind expected of a premium brand.”

Fisker Automotive’s first car, the Fisker Karma, will make its Chinese debut at the Shanghai Motor Show in April 2011. The Karma represents Fisker Automotive’s vision of responsible luxury and is the world’s first true electric vehicle with extended range.

The Karma combines world class style and performance with industry leading economy and the lowest emissions of nearly any production vehicle. With a total range of 483 km (300 mi) the four-passenger Karma saloon is capable of traveling 80 km (50 mi) on emission-free electric power alone, and an additional 403 km (250 mi) on low-emission hybrid electric power.

About 3,000 pre-orders for the Karma have already been placed by eager customers around the world. The company plans to sell 15,000 Karma vehicles per year globally. Initial Chinese customer deliveries are expected to take place in the fall.

Fisker is also developing a higher-volume line of premium electric vehicles with extended range, scheduled to start production in the fourth quarter of 2012.

This partnership with CGA brings to five the number of Fisker importers developing comprehensive retail networks that will provide consumers around the world convenient access to the company’s stylish, environmentally conscious vehicles.

Fisker’s North American network consists of 42 retailers in 45 locations from coast to coast.

The Fisker Karma is the world’s first true electric vehicle with extended range and the embodiment of the design-driven company’s firm belief that environmentally conscious cars need not sacrifice passion, style or performance.

Designed by Fisker Automotive co-founder, CEO and executive design director Henrik Fisker (Artega GT; Aston Martin V8 Vantage; Aston Martin DB9; BMW Z8), the four-door, four-passenger Karma combines world-class style with better efficiency and lower emissions than today’s best hybrids to deliver an uncompromised, premium vehicle that sets the tone for the future of driving.

With exotic car looks, sports car performance, an achievable annual average economy of 2.4L/100 km (100 mpg) and emissions of just 83g/km, the 300 kW (403 hp/408 PS) Fisker Karma is the only truly responsible alternative to traditionally powered luxury cars.

Fisker Automotive is an American premium electric vehicle manufacturer with a mission to redefine the luxury automobile with an unwavering dedication to sustainability. Global headquarters are in Irvine, California. Acclaimed auto designer Henrik Fisker and industry veteran Bernhard Koehler established the company in 2007 to address the need for environmentally conscious vehicles that deliver passion, style and performance.

Previously, Fisker was design director and a board member for Aston Martin, as well as president and CEO of DesignworksUSA, BMW’s North American design arm. Koehler led operations for Ford’s Global Advanced Design Studio in London and created concept cars for Aston Martin, MINI and BMW.

Founded in 2006, China Grand Automotive Group (CGA) is a joint venture invested by Xinjiang Guanghui Industry Investment (Group) Co., Ltd. and U.S. TPG Newbridge Capital LLC. With its headquarter in Shanghai and business scope in 12 provinces in China. CGA has built a network of over 200 4S stores carrying over 40 auto brands. The company is now a leading distributor of automotive products in the domestic market, reaching sales revenue of RMB 50 billion by the end of 2010, ranking the number one passenger car traders in China. CGA operates in automobile sales and maintenance, parts supply, used car sales, car insurance, project development of imported cars and parts, car decorations, car rental and related information consulting.