Fisker Automotive has signed its final assembly contract with Valmet Automotive to manufacture the Karma in Finland.

Valmet Automotive will be the engineering and manufacturing supplier for Fisker Automotive. The Karma is a four-door plug-in hybrid sports sedan and production is planned to start in the fourth quarter of 2009 with annual capacity projected at 15,000 vehicles.

Valmet will build a new body welding line for the Karma but its exisiting painting and assembly process will easily be adapted to build electric and hybrid cars.

“The agreement is very significant for us and our employment situation in the years to come,” said Valmet president Ilpo Korhonen.

“With the planned full production volume, the cooperation with Fisker Automotive will employ some 500 blue collar workers at Valmet Automotive.”

“The schedule is demanding, but I’m confident that with good cooperation the production will start on schedule. A hybrid drive train, battery technology and a new body design with light weight materials is a great challenge to our engineering and production teams. Our supplier quality management team is also involved in the project,” added Korhonen.

“We are very pleased to have the final contract signed and are looking forward to a long business relationship with Valmet,” said Fisker Automotive CEO, Henrik Fisker.