California-based Fisker Automotive has signed a letter of intent with Valmet Automotive to assemble its Karma plug-in hybrid sports sedan in Finland beginning in late 2009. Valmet assembles cars under contract for other brands. Since the launch of the Porsche Boxster in 1997 Valmet has assembled the cars as a second source to Porsche's own factory in Zuffenhausen, Germany. Porsche recently announced plans to move Boxster production to Magna Steyr in Graz Austria in 2012. Fisker Karma production will begin at Valmet in the second half of 2009, with North American deliveries expected to begin in late 2009. European deliveries of the new car should start sometime in 2010. The companies are currently projecting volumes of 15,000 cars per year. In addition to manufacturing, Valmet will also supply engineering services for Fisker. Unlike the Tesla Roadster, which is shipped to California from the Lotus factory in England as a glider, Valmet will complete production of the Karma. The Karma is planned to have a 50-mile electric range with a gasoline range extender bringing the total to 350 miles. Thanks to Joni for the tip!

[Source: Valmet Automotive]