Chinese autoparts company bids for Fisker

|By:, SA News Editor

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.