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VL Automotive and Wanxiang put in a Low Bid for Fisker

Stick a fork in `em, because Fisker’s about as cooked as it can get. As much as it saddens us, we have to admit that the once promising brand is set to be sold or head into bankruptcy. So far, Fisker has two interested parties, per a report from Reuters, that are looking to buy it out.

The most aggressive team is headed up by Bob Lutz’s VL Automotive and China’s Wanxiang Group, as they reportedly put in a bid of $20 million for the spiraling company. $20 million may sound like a big number for a nearly bankrupt company, but it is a far cry from the $2.2 billion valuation given to Fisker in the spring of 2012.

Of course, no one involved in the process is confirming the report of this super-low bid, but folks close to the situation are claiming that it is true and that Fisker is considering the offer.

There is one other team that is interested in purchasing the company outright, but there aren’t any reports of them bidding. However, there are reports that a third investment group is interested in buying out DOE’s $171 million interest in the company, which came as a result of the loan Fisker received in its infancy that was later frozen.

This is all we have for now, but we’ll keep an eye out for more reports as time goes on.

Click past the jump to read more about VL Automotive’s interest in Fisker

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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.

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