July 22, 2010 – Irvine, Calif., - Fisker of Orange County confirms, Fisker Automotive has finalized the $20 million purchase of a former General Motors Co. plant in Delaware where Fisker plans to make a new plug-in hybrid sedan.

Fisker announced its plan to buy the Wilmington, Delaware factory in October 2009, and since has purchased the plant, which is expected to employ more than 2,000 people.

"We’re very excited with the news, as it will allow Fisker to move forward with production,” said Fisker of Orange County’s General Manger, Steve Rudkin. “The new plant with provide new opportunities for Fisker and will allow automobile consumers to soon be available to purchase a new wave of innovative vehicles,” he said.

A federal bankruptcy court judge approved the sale to Fisker last month. A $528.7 million loan from the U.S. Department of Energy helped Fisker fund the purchase. The loan comes from a $25 billion fund established by Congress in 2007 to help automakers develop fuel-efficient vehicles.

Fisker, which was founded in 2007 by Danish automobile designer Henrik Fisker, also makes the Karma, a plug-in hybrid sports car it plans to start selling later this year for $87,900. The sedan that will be built in Delaware will be a lower-cost family car.

Fisker Chief Operating Officer Bernhard Koehler said the automaker plans to export as much as half of its production outside the U.S. The sedan will go on sale in 2012.

As a proud member of the Shelly Automotive Group and one of the largest Fisker centers on the West Coast, Fisker of Orange County loyally serves Orange County - including Aliso Viejo, Anaheim, Balboa, Brea, Buena Park, Costa Mesa, Corona Del Mar, Coto de Caza, Cypress, Dana Point, Dove Canyon, Foothill Ranch, Fountain Valley, Fullerton, Garden Grove, Huntington Beach, Irvine, Ladera Ranch, Laguna Beach, Laguna Hills, Laguna Niguel, Laguna Woods, La Habra, La Palma, Lake Forest, Los Alamitos, Mission Viejo, Monarch Beach, Newport Beach, Newport Coast, Orange, Placentia, Portola Hills, Rancho Santa Margarita, San Clemente, San Juan Capistrano, Santa Ana, Seal Beach, Stanton, Trabuco Canyon, Tustin, Villa Park, Westminster and Yorba Linda.

Fisker of Orange County also proudly serves Riverside, San Bernardino and San Diego County, Long Beach, Los Angeles and San Gabriel Valley. For more information about Fisker of Orange County, visit the dealership at 9881 Research Drive in Irvine, Calif., or online at fiskeroforangecounty.com.