DOE Head Moniz: Whichever Chinese Company Buys Fisker Must Keep Work in U.S.

United States Energy Secretary Ernest Moniz said the whichever of the two Chinese bidders for the assets of Fisker Automotive wins the court ordered auction on February 12th it will still have to keep Fisker’s manufacturing and research in the U.S. Automotive News reports that Hybrid Tech Holdings LLC and Wanxiang America Corp. are fighting over the remains of Fisker in U.S. bankruptcy court for the remains of Fisker, an Energy Department loan recipient that stopped making its luxury plug-in hybrid cars in 2012.

“I’m not going to pick a winner of the auction,” Moniz said at the Washington Auto Show. “What’s key for us is of course the terms of our loan have to be respected. We have technology transfer limitations first of all. No matter who the winner is we will be looking at both engineering and manufacturing in the U.S. That’s the key for us.”

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Judge Will Allow Wanxiang to Bid on Fisker, Sets Feb. 12 Auction. Lutz Mum

Reuters reports that U.S. Bankruptcy Judge Kevin Gross ruled that an auction for the assets of defunct hybrid sports car maker Fisker Automotive will be held on February 12. The auction will be held in the New York offices of the law firm of Kirkland & Ellis and attendance will be limited to representatives of Fisker, the unsecured creditors’ committee, and the two bidders, the American unit of China’s Wanxiang Group, an automotive supplier, and Hybrid Tech Holdings, which is affiliated with Hong Kong investor Richard Li. Other potential bidders have until February 7th to tender offers.

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Fisker Files For Chapter 11 Bankruptcy

What do Justin Bieber, Ashton Kutcher and Al Gore all have in common? They may soon — baring a miracle — become the proud owners of the first orphan cars made in the 21st century for well-moneyed consumers by an automaker born in the 21st century, as Fisker Automotive has filed for Chapter 11 bankruptcy protection.

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  • Mardaver The WRX is becoming dated. It has a look that makes it unappealing to much of the population. Time to change it up and make it look like it comes from this decade.
  • VoGhost We're not going back.
  • Clive Most 400 series highways in Canada were designed for 70 MPH using 70 year old cars. The modern cars brake, handle, ride better, and have much better tyres. If people would leave a 2-3 second gap and move to the right when cruising leaving the passing lanes open there would be much better traffic flow. The 401 was designed for a certain amount of traffic units; somewhere in the 300,000 range (1 car = 1 unit 1 semi+trailer =4 units) and was over the limit a few minutes after the 1964 official opening. What most places really need is better transit systems and better city designs to reduce the need for vehicle travel.
  • Kira Interesting article but you guys obviously are in desperate need of an editor and I’d be happy to do the job. Keep in mind that automotive companies continually patent new technologies they’ve researched yet have no intention of developing at the time. Part of it is to defend against competitors, some is a “just in case” measure, and some is to pad resumes of the engineers.
  • Jalop1991 Eh?