Geely Pulls Out of Fisker Bidding, Leaving Only One Suitor
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.