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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Siemens and NEC Added to List of A123 Buyers

In the bankruptcy auction for EV battery maker A123 that begins today, Reuters is reporting that NEC of Japan and Siemens of Germany are going to join China’s Wangxiang and Wisconsin’s Johnson Controls in bidding for the entire company.

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  • 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?
  • EBFlex Wow Canada actually doing something decent for a change. What a concept.
  • 3-On-The-Tree To Khory, I was a firefighter as well and the worst thing about car fires was the fumes from all the plastics and rubber, tires etc.