Fisker Sold to Chinese Firm for $149M

Fisker Sold to Chinese Firm for $149M

China’s Wanxiang Group has emerged as the winning bidder for Fisker’s assets, agreeing to pay $149.2 million for the American electric automaker.

The bidding contest came down to Wanxiang and Hybrid Tech Holdings with U.S. Bankruptcy Judge Kevin Gross scheduled to consider approving the sale on February 18, 2014. Hybrid Tech Holdings is an affiliate of Hong Kong billionaire Richard Li and is a Fisker investor.

SEE ALSO: New Fisker Bidder to Restart Production, Add New Models

Last year, Wanxiang acquired the bankrupt assets of A123 Systems Inc., the company that supplied the batteries for Fisker.

Wanxiang has made no announcement regarding its plans for the future of Fisker automobiles.

GALLERY: 2012 Fisker Karma


[Source: Automotive News]

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