Fisker May Follow A123 To China
Reports by Bloomberg suggest that Fisker could sell up to an 85 percent stake to Chinese automaker Dongfeng. The automaker apparently bid $350 million for the beleaguered plug-in car maker, according to sources close to the company.
With a $200 million Department of Energy loan still outstanding, and a possible cash crunch looming mid-year, Fisker has been looking for a buyer. Company spokesman Roger Ormisher told Bloomberg
“The company has received detailed proposals from multiple parties in different continents, which are now being evaluated by the company and its advisers,”
If Fisker were to be sold to Dongfeng, the possibility exists that production of its vehicles would move from Finland to China, without the ex-GM factory in Delaware having ever produced any car s. Fisker’s battery supplier, A123 Systems, declared bankruptcy in 2012, and was sold to a Chinese firm.
Guy here at work drives one of these. I figure he is one of the execs, (I work in the music business in Santa Monica CA)
Fisker going to China is no big loss. Sorry, Delaware, maybe you can find a company with a real business plan to fill the factory.
In other news, Tesla went cash-flow-positive a few weeks ago. But that's not newsworthy around these parts, right?
This really raises the viability of the return of Electric Cars. You get the impression there is a lot more to be done with EV's before they become in anyway mainstream. Who killed the Electric Car? Technology that is not truly matured.