New $375 Million Electric Vehicle Plant Planned For China

Wanxiang Group – the Chinese company which owns Fisker – has plans to build a $375 million plant to produce electric cars in Hangzhou, China.

According to sources in Asia, the new factory is being designed to produce up to 50,000 cars per year.

Wanxiang Group purchased Fisker from bankruptcy after the controversial electric car company filed for Chapter 11 in North America with debts including US$139million in unpaid U.S. Government loans.

Now the company has been rebranded as ‘Karma’ (the same name as its stylish plug-in sedan currently favoured by American pop stars).

Plans for the Chinese plant centre on extended range versions of both the Karma and the Atlantic coupe.

MORE: Fisker Karma To Relaunch With BMW Power
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