Valmet Automotive to become Finland’s first hybrid-car-producer

Valmet Automotive, which owns Finland’s only saloon-car manufacturing-company, has struck a deal with the American sports car-manufacturer Fisker Automotive.

The hybrids, which are partially powered by electric, are set to reach the European market by 2010.

"It is forecast that the market for environmentally friendly electric vehicles will grow very fast and we are proud to be in the pole position in this growth," said Ilpo Korhonen, the head of Valmet Automotive.

Valmet Automotive, previously known as Saab-Valmet Oy and now owned by Metso, was founded in 1968 in Uusikaupunki, and today specializes in novelty cars.

The company has produced cars for big brands such as Chrysler, Opel, Lada, Saab and Porsche. Last month Porsche decided to discontinue their contract after 2011.

Fisker Automotive is renowned for making sports cars and is now taking deposits for the new hybrid, Fisker Karma, which will be delivered in 2010.