Chinese autoparts company bids for Fisker


China's largest autoparts firm, Wanxiang, has surprisingly agreed to make a bid of $24.725M for Fisker Automotive and assume some of the bankrupt company's liabilities.

The offer has come ahead of a hearing on Friday over whether Fisker should be sold to Hybrid Tech Holdings, an entity led by Hong Kong tycoon Richard Li.

The Wanxiang proposal has prompted Fisker creditors to ask the bankruptcy court to block the Hybrid deal and instead hold an open auction.

In 2012, Wanxiang outbid Johnson Controls for most of the assets of A123 Systems, which made batteries for Fisker's hybrid cars.

Comments (6)
  • samuel_liu
    , contributor
    Comments (2753) | Send Message
     
    Which was the Cn car firm that tried to bid for Hummer?
    Denied by the Cn Govt!
    1 Jan 2014, 07:05 AM Reply Like
  • 1980XLS
    , contributor
    Comments (3360) | Send Message
     
    http://bit.ly/KktogI

     

    http://bit.ly/1j7aCUy
    1 Jan 2014, 08:43 AM Reply Like
  • Hubert Biagi
    , contributor
    Comments (847) | Send Message
     
    China all too willing to scoop up this technology funded by our tax dollars. Thanks, Mr. Obama!
    1 Jan 2014, 09:42 AM Reply Like
  • DeepValueLover
    , contributor
    Comments (11175) | Send Message
     
    The Chinese are increasingly converting their overpriced U.S. Treasuries into stakes in fairly priced, productive U.S. businesses.

     

    Smart!

     

    They are also (very slowly and quietly) exchanging U.S. paper debt for physical gold.

     

    VERY smart!
    1 Jan 2014, 10:26 AM Reply Like
  • Mike Holt
    , contributor
    Comments (1836) | Send Message
     
    Will Wanxiang also assume the liability for this lawsuit recently filed against Fisker for failing to inform investors of negative information that, if disclosed, would have deterred them from establishing the investments they made in Fisker?

     

    http://reut.rs/1k87VYv
    1 Jan 2014, 01:17 PM Reply Like
  • samuel_liu
    , contributor
    Comments (2753) | Send Message
     
    "Will Wanxiang also assume the liability "

     

    DOUBTFUL, Cn companies have trouble offering after-sales service. That is why I never bought any Cn-branded machine over $300 (had a Haier-Gome situation).

     

    As I mentioned I had a lack of (promised) after-sales service on my then new Samsung notebook and have been shouting about it.

     

    The after-sales service tried some very negative "Cn practices" in Beijing so I had a major letter writing campaign to Nokia HQ's and various levels and even Microsoft, so the contracted services were replaced. I still buy Nokia mobiles because I find value in them.
    2 Jan 2014, 06:14 AM Reply Like
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