Fisker is in some serious trouble, as disagreements between management and its founder resulted in Henrik Fisker to step down from his position. Fiskers only real hope at this point is to find a buyer or a strategic partner to help alleviate its financial issues. For a long time, Geely – Volvo’s owner – would end up being the high bidder, mostly due to their interest in Fisker’s Delaware assembly plant. According to a report from Reuters, Geely has pulled out of the bidding process because of the DOE loan conditions.
This leaves only one bidder in the running for Fisker and that bidder is China-owned Dongfeng Motor Group Co. It is unclear at this time whether Fisker will automatically accept Dongfeng’s offer, but at this point, that look like the only real option. Depending on the terms of a potential deal, this could result in Fisker becoming partially owned by China – creepy…
Regardless of how things pan out, we really want to see Fisker survive all of this. We’ll continue to keep you updated.
Following the damaged caused to a slew of Fisker Karmas by Hurricane Sandy, Fisker’s insurer denied the claim and the EV builder almost immediately filed a $33 million lawsuit against the insurer. According to a report, the two companies have settled the lawsuit and all legal action was dropped.
There is no mention of who started the settlement process, but this does seem like strange timing. See, only weeks ago Fisker hired a consultant to help the struggling manufacturer save a little money and to search for a potential partner or buyer. It’s common knowledge that a pending legal battle makes it much harder to talk a potential partner into joining forces and even tougher to find a buyer.
This leads us to believe that Fisker may have a partner or buyer that is interested, but wanted the legal battle settled before moving forward. This is all multiplied by the recent report from Reuters that Geeley, the Chinese automaker and owner of Volvo, was more than just a little interested in purchasing majority stake in Fisker.
All of this is coming together all too well for us to ignore the possibility of Fisker selling sooner rather than later.
We’ll keep an eye on this situation and update you.
You’ll never confuse Geely for being an automaker that evokes first-name basis, but the fact remains that these guys wouldn’t be here if they didn’t know what they were doing. And if we do say so ourselves, these guys from China aren’t ones to take a backseat when it comes to their hometown auto show in Shanghai.
The Chinese automaker has released the first pictures of their new coupe sports car, the Gleagle GS-CC. Aesthetically speaking, we’re very impressed with the design of the car, especially the interior, which comes with what looks to be a sporty and aggressive design to go along with high-quality materials. Even the exterior looks good with the only exception being that drainage-looking grille that seems completely out of place not just in the Gleagle GS-CC, but in the entire auto industry for that matter.
Unfortunately, the good vibes of the car’s overall design don’t take away from the underwhelming powertrain under the car’s hood. We don’t know about the rest of you, but a car that’s as sporty looking as the GS-CC should have a more powerful engine than the 1.3-liter turbocharged four-cylinder it has under its hood. That engine only translates to about 127 horsepower, which is a disappointing number considering that it’s a car that looks more powerful than it actually is.