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Fisker Sold for $149 Million to China's Wanxiang

Ill-fated electric car manufacturer has been sold to Wanxiang for $149.2 million this weekend. The Chinese company won the bidding against Hong Kong's Hybrid Tech Holdings.
Fisker Karma 1 photo
Photo: Fisker Automotive
Wanxiang's bid includes $126.2 million in cash and $8 million in assumed liabilities, Automotive News reports, adding that US Bankruptcy Judge Kevin Gross is scheduled to approve the sale on February 18.

Wanxiang, who also owns the company that supplied batteries to Fisker until production ended, is said to revive the brand in China, but new vehicles could be offered in the United States as well.

Fisker Automotive stopped building its all-electric sedan in 2012. The manufacturer had a loan debt of $168 million to the Department of Energy and has filed for bankruptcy protection last November.

Story via AutoNews
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About the author: Ciprian Florea
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Ask Ciprian about cars and he'll reveal an obsession with classics and an annoyance with modern design cues. Read his articles and you'll understand why his ideal SUV is the 1969 Chevrolet K5 Blazer.
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