Fisker Automotove Finalizes Purchase of Former GM Plant to Build Plug-in Hybrids

American automaker Fisker Automotive finalized its purchase of a former GM factory where it will build plug-in hybrid electric vehicles. The company is now in full possession of the 3.2 million square foot Wilmington Assembly plant in Wilmington, Delaware, for which it paid Motors Liquidation Company (MLC) $20 million. MLC is the holding company formed by General Motors Corporation's bankruptcy.

The purchase is supported by a $528.7 million Department of Energy loan for the development of two lines of plug-in hybrids.

The Wilmington plant will be home to Project NINA, Fisker's second line of plug-in hybrid electric vehicles, and where Fisker expects to ultimately create more than 2,000 factory jobs.“This is a major step toward creating thousands of manufacturing jobs and restoring America as a leader in the global auto industry,” said Bernhard Koehler, COO, Fisker Automotive.“Wilmington will be instrumental in fulfilling our plans to export more than half of Fisker premium plug-in hybrid production to global markets.”

Fisker announced its intent to acquire the idled factory in October 2009. A federal bankruptcy judge approved the sale last month.

The Wilmington Assembly plant opened in 1947 and produced more than 8.5 million vehicles before closing in mid 2009.