Fisker Entertaining Possible Suitors

Fisker Entertaining Possible Suitors

Fisker seems to be falling on hard times, and a new report suggests the brand might be on the market with Chinese firm Dongfeng Motor Corp tossing a $350 million offer into the ring.

The deal would see Dongfeng acquire 85 percent of Fisker according to an un-named source connected to Bloomberg. That same source also said Fisker is looking for bids by February 6.

Official information is still unavailable, but the troubled plug-in hybrid luxury manufacturer is likely running out of options. Production of the floundering firm’s sole vehicle – the Karma – halted near the end of the summer last year and has yet to resume.Contract re-negotiation with workers at the Finnish plant where the Karma is built caused the initial pause, but problems with battery maker A123 forced the manufacturing flatline to continue.

Fast forward to today and production is still shuttered while Fisker seemingly teeters on the brink of failure. The Dongfeng deal could provide enough cash to keep Fisker on life support while paying off the $200 million in U.S. government loans it still owes.

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[Source: Bloomberg