China Grand Automotive is a joint venture between Xinjiang Guanghui Industry Investment and TPG Newbridge Capital LLC. The venture is headquartered in Shanghai, with operations in 12 provinces in China. China Grand Automotive has built a network of over 200 4S stores carrying over 40 auto brands, including Mercedes-Benz, BMW, Lexus and Lamborghini.
Fisker says that the rapid growth of vehicle sales, particularly within the luxury segment, combined with the country’s effort to minimize carbon emissions makes China an excellent market for the company.
In addition Fisker said that its first car, the Fisker Karma PHEV, will make its Chinese debut at the Shanghai Motor Show in April 2011.
The Karma combines world class style and performance with industry leading economy and the lowest emissions of nearly any production vehicle. With a total range of 483 km (300 mi) the four-passenger Karma saloon is capable of traveling 80 km (50 mi) on emission-free electric power alone, and an additional 403 km (250 mi) on low-emission hybrid electric power.