Sectors | Tue Jul 15, 2008 7:57am BST

Metso to build Fisker Karma hybrid car in Finland

HELSINKI, July 15 (Reuters) - Finnish engineering group Metso Oyj (MEO1V.HE) said its car manufacturing unit Valmet Automotive had signed a letter of intent with U.S. hybrid car producer Fisker Automotive to build the Karma hybrid car in Finland.

Deliveries of the four-door hybrid sports sedan are set to start in the fourth quarter of next year, with production volume projected to reach 15,000 a year, Metso said in a statement. It gave no financial details.

Valmet will stop making Porsche's Boxter and Cayman models in 2012 after Porsche AG (PSHG_p.DE) decided not to extend the manufacturing deal they have had since 1997. (Reporting by Azer Sawiris, editing by Will Waterman)