Chinese Volvo Owner Likely to Buy Fisker

Earlier this year, we reported that Fisker seemed desperate seeking strategic partners in China, and now it appears that the struggling American automaker could be selling a major stake to China’s Zhejiang Geely Holding Group.

Geely, which owns Volvo, appears to be the perfect suitor for Fisker. The Chinese firm is very serious and passionate about Fisker and its technology, according to an individual close to Fisker. China is also making a strong push into alternative fuel cars to help build its green technology sector, which is clearly lacking, seen in the recent pollution issues.

SEE ALSO: Fisker Seeks Strategic Partners in China

Along with Geely, Dongfeng Motor Group Co. is also rumored to have a bid in. It is believed the offers are between $200 to $300 million. Fisker appears to prefer Geely, and the sources also noted that the Chinese automaker has already sent a team of engineers to America to evaluate Fisker’s electric technology.

[Source: Reuters]

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