#wangxiang

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.

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.