IRVINE, CA - Plug-in hybrid automaker Fisker Automotive Inc. has completed its purchase of a former General Motors assembly plant in Wilmington, Del., at a cost of $20 million, the Los Angeles Times reported.
The 3.2 million-square-foot factory was previously closed by GM. Fisker will use the facility to build its Nina model, a $40,000 plug-in hybrid aimed at the mass market. The company plans to produce 100,000 a year by 2013.
Fisker Automotive is led by auto designer Henrik Fisker.
Plans for the factory acquisition were originally announced in October 2009.
In April Fisker drew a $529 million loan from the U.S. Department of Energy.