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For Wanxiang, job one at Fisker is fixing roughly 250 bugs with the Karma luxury car before production can resume. After that, the goal is to launch a second model.
Do you believe in second chances? Chinese automotive group Wanxiang certainly does.
Production of the Fisker Karma might finally resume within a year under the company’s new Chinese owners.
Wanxiang Group’s purchase of A123 Systems Inc. has been approved by the U.S. government, despite concerns of sensitive technology being transferred to China.
Bankrupt battery manufacturer A123 Systems expects its sale to Chinese firm Wangxiang to be complete in a little over a week.
A year riddled with controversy for electric cars is winding down, but not without at least one more flare up — Chinese firm Wanxiang Group won the bidding war for A123 Systems.
Bankrupt battery maker A123 Systems was scheduled to go up for auction today behind closed doors at a Chicago law firm, but the list of bidders is likely to cause trouble.