Fisker is still likely to be rescued by a Chinese savior, but it won’t be Geely. Reuters is reporting that Fisker’s outstanding obligations to the Department of Energy have scared off the Chinese auto maker, leaving Dongfeng as the sole suitor for the beleagured EV maker.
Not Dongfeng, but China’s Geely currently looks best positioned to profit from U.S. government largesse by buying beleaguered and DOE- funded plug-in car maker Fisker, Reuters reports. According to the report, “Zhejiang Geely Holding Group is favored to secure a majority stake in troubled U.S. electric car maker Fisker Automotive, according to two sources familiar with Fisker’s search for a strategic investor or partner.”
Also according to the report, red flags are sure to flutter over Fisker’s HQ in Anaheim, as Fisker “is currently weighing bids from two Chinese auto makers: Geely, the owner of Sweden’s Volvo, and state-owned Dongfeng Motor Group Co.”
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.
NAIAS 2013: Everyone's Most Favorite-ist Car Exec Saves Least Favorite-ist Electric Car…With A 6.2-liter LT1 V8!
It isn’t often one of the biggest news items coming out of NAIAS 2013 is from a tuning house … especially a tuning house nobody has ever heard of before. Attach the name Bob Lutz to a car, along with a brand new, fire breathing, tire shredding 6.2L LT1 V8 from the new Corvette, you are bound to turn some heads. Oh, and they wedged it into a Fisker Karma.
That’s Maximum to the Bob.
Fisker wanted to sell its $100,000-plus Karma plug-in hybrid in China by the end of this year. It’s not happening. Fisker “encountered a slight delay in obtaining final certification to sell cars in China” spokesman Roger Ormisher told Reuters. The company now targets “the first quarter of next year to take advantage of China’s rapidly growing market for luxury cars.” Good luck with that.
More than 300 Karma plug-in hybrids fell victim to super storm Sandy, Fisker spokesman Roger Ormisher told Reuters. The cars sat in a storage lot in Port Newark, New Jersey, which was inundated by Sandy. Among the lost Karmas are 16 that went up in flames. One car caught fire when seawater caused a short circuit. Winds spread the fire to 15 other cars.
While Johnson Controls and China’s Wanxiang Group have competing bids to acquire the assets of advanced battery maker and Fisker supplier A123, a more serious battle is occurring in U.S. Bankruptcy Court in Delaware between the startup automaker and what is arguably its most important vendor. A123 wants the bankruptcy judge to void its contracts including those for supplying batteries to Fisker. That could stop production of Fisker’s only car, the Karma.
Fisker concluded its investigation into the fire that consumed one of their Karmas in Woodside, CA. According to a Fisker statement, neither the Lithium-ion battery pack, nor “new technology components, engine component packaging or unique exhaust routing of the Fisker Karma” were responsible for the conflagration. Rather, it was a lowly cooling fan, that, well, overheated. In the guessing game for the fire’s cause, TTAC’s independent accident investigator Ronnie Schreiber came closest when he suspected a low voltage unit.
A recall of approximately 2,400 Fisker Karma has been initiated.
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- SPPPP The little boosters work way better than you would expect. I am a little nervous about carrying one more lithium battery around in the car (because of fire risk). But I have used the booster more than once on trips, and it has done the job. Also, it seems to hold charge for a very long time - months at least - when you don't use it. (I guess I could start packing it for trips, but leaving it out of the car on normal days, to minimize the fire risk.)
- Bader Hi I want the driver side lights including the bazl and signal
- Theflyersfan One positive: doesn't appear to have a sunroof. So you won't need to keep paper towels in the car.But there's a serious question to ask this seller - he has less than 40,000 miles on some major engine work, and the transmission and clutch work and mods are less than 2 months old...why are you selling? That's some serious money in upgrades and repairs, knowing that the odds of getting it back at the time of sale is going to be close to nil. This applies to most cars and it needs to be broadcasted - these kinds of upgrades and mods are really just for the current owner. At the time of sale, a lot of buyers will hit pause or just won't pay for the work you've done. Something just doesn't sit well with me and this car. It could be a snowbelt beast and help save the manuals and all that, but a six year old VW with over 100,000 miles normally equals gremlins and electrical issues too numerous to list. Plus rust in New England. I like it, but I'd have to look for a crack pipe somewhere if the seller thinks he's selling at that price.
- 2ACL I can't help feeling that baby is a gross misnomer for a vehicle which the owner's use necessitated a (manual!) transmission rebuild at 80,000 miles. An expensive lesson in diminishing returns I wouldn't recommend to anyone I know.
- El scotto Rumbling through my pantry and looking for the box of sheets of aluminum foil. More alt right comments than actual comments on international trade policy. Also a great deal of ignorance about the global oil industry. I'm a geophysicist and I pay attention such things. Best of all we got to watch Tassos go FULL BOT on us.