Fisker Automotive Holdings Inc. won court approval to sell its assets to China’s Wanxiang Group Corp. for an offer valued at $149.2 million, almost six times what the hybrid-car maker sought when it filed for bankruptcy.
China’s Wanxiang Group won an auction for Fisker Automotive Holdings Inc., the maker of luxury plug-in hybrid cars, with a $149.2 million bid, almost six times what Fisker was seeking when it filed for bankruptcy.
The winner between two Chinese- backed bidders for assets of bankrupt electric-car maker Fisker Automotive Inc. will have to keep manufacturing and research in the U.S., Energy Secretary Ernest Moniz said.
Fisker Automotive Inc., whose $103,000 plug-in hybrid car was driven by celebrities including Justin Bieber, filed for bankruptcy with plans to be acquired by a group said to include Richard Li, son of Hong Kong’s richest man.
Fisker Automotive Inc. founder Henrik Fisker and the hybrid carmaker’s former directors were sued by investor Atlas Capital Management LP over $2 million in losses it allegedly suffered in the bankrupt company’s collapse.
Fisker Automotive Inc. creditors opposed the proposed sale of the bankrupt electric car maker’s assets to Hybrid Tech Holdings LLC and said it should be conducted through a competitive bidding process.
Fisker Automotive Inc., the maker of plug-in luxury sports cars, named an industry veteran its new chief executive officer and said it may turn to private investors to restart a stalled Delaware plant project.
Fisker Automotive Inc., a California maker of plug-in hybrid sports cars, wants to put scrutiny of a federal loan to build rechargeable vehicles behind it as the company ramps up U.S. deliveries of $102,000 Karma sedans.