Wilmington plant reportedly has a buyer

[Oracle of Delphi]

Fisker Automotive plans to build a plug-in hybrid car at the empty Boxwood Road plant near Newport, a decision that will give Delaware a prominent role in a government-backed reshaping of the American auto industry.

A formal announcement from Fisker could come as soon as Tuesday, according to sources with knowledge of the company's plans.

Fisker, a startup automaker based in Irvine, Calif., confirmed earlier this week that company representatives have met with Delaware officials and toured the Boxwood Road plant, idle since July when General Motors ended production there.

The company is planning to renovate the abandoned domestic factory with proceeds from a $359 million loan from the U.S. Department of Energy. Fisker, which expects to release its first vehicle next summer, intends to build as many as 100,000 electric hybrid sedans annually at the U.S. site, beginning in 2012.

The company's decision to use the Boxwood Road factory marks a quick resurrection for the 62-year-old plant, a casualty of GM's bankruptcy and restructuring earlier this year. Gov. Jack Markell had asked Motors Liquidation Co., which is disposing of GM's unwanted properties in bankruptcy court, to keep equipment in the local plant to help market it to automakers.

The 3.2 million-square-foot plant was already geared toward low-volume production, and GM invested $50 million earlier this decade to convert its body shop and assembly line to produce the Pontiac Solstice, Saturn Sky and Opel GT sports cars.

Renovating the Boxwood Road factory for Fisker's purposes "would probably be as easy as any existing plant I could think of," said David Cole, chairman of the Center for Automotive Research in Ann Arbor, Mich.

Fisker spokesman Russell Datz would not comment on the company's plans. Tim Yost, a spokesman for Motors Liquidation Co., also had no comment. The sale of the Boxwood Road factory would require approval from the bankruptcy court in New York.

Potential 'green jobs' coup

Luring Fisker would be a signature economic development achievement for the administration of Markell, who could tout the twin goals of bringing "green" jobs to Delaware and rebuilding the state's manufacturing sector.

Article continues: http://www.delawareonline.com/apps/pbcs.dl...D=2009310230012

[A Horse With No Name]

Awesome!

Chris

[Intrepidation]

Nice to see the possibility of a plant being brought back to life and not left to rot or be demolished, and by an American company no less.

[Blake Noble]

Give Mr. Fisker a cigar and a huge pat on the back. He deserves it if he is, in fact, going to buy Wilmington and help keep America's industry going.

If only other American companies would take notice ...

[Justin Bimmer]

This is good new all around. Imagine the possibilities of this deal.

[poly]

A certain former plant manager is coming out of retirement to run the operation.

[Camino LS6]

Positive news.

[Oracle of Delphi]

A certain former plant manager is coming out of retirement to run the operation.

So I heard ...

[SAmadei]

Liking Fisker more and more... with the split grill, it might be my next "Pontiac".

[Z-06]

I am glad that Wilmington goes to Fisker rather than Tata. Fisker at least has some relationship with GM (LNF 2.0DI Turbo Ecotec will propel the Karma).

[Justin Bimmer]

So GM supplies engines and I am guessing will hold the loan note on the plant.

Always looking ahead. Which is what then need to do.

[Oracle of Delphi]

U.S. Vice President Joe Biden plans on Tuesday to visit a closed General Motors plant in Wilmington, Del., for an announcement, according to the White House ... The announcement is planned for 10 a.m. EDT on Tuesday ...

Link: http://bit.ly/KBWe3

[Z-06]

U.S. Vice President Joe Biden plans on Tuesday to visit a closed General Motors plant in Wilmington, Del., for an announcement, according to the White House ... The announcement is planned for 10 a.m. EDT on Tuesday ...

Link: http://bit.ly/KBWe3

Did you play a role in that?

[Oracle of Delphi]

Did you play a role in that?

Wilmington has many powerful friends, not just me! Who's to say that GM won't buy up Fisker some day soon and create an electric automotive division, and then the plant would once again be a GM plant ...

[Z-06]

Wilmington has many powerful friends, not just me! Who's to say that GM won't buy up Fisker some day soon and create an electric automotive division, and then the plant would once again be a GM plant ...

The way Fisker is setting up the company and its powertrain it may very well look like a pilot exercise for GM when it comes to pushing Voltec. The relationship between them is very close. I will not be surprised if successful Fisker is bought by GM, provided it has funds.

[Oracle of Delphi]

The way Fisker is setting up the company and its powertrain it may very well look like a pilot exercise for GM when it comes to pushing Voltec. The relationship between them is very close. I will not be surprised if successful Fisker is bought by GM, provided it has funds.

Trust me, there is a method to my madness ...

[Justin Bimmer]

I went to Fiskar's website and their car looks really great.

[CSpec]

Your tax dollars at work...

[Satty]

Your tax dollars at work...

I'd rather they go to a forward looking company with an interest in adding American jobs than to a golden parachute.

[pow]

Your tax dollars at work...

At least it's a loan with considerable potential returns...