Saturday, April 18, 2015   

Wangxiang buys bankupt Fisker in US$150m deal
(03-25 10:16)

The one-time star electric carmaker Fisker Automotive said Monday it sold “substantially all'' of its assets to the Chinese auto parts group Wanxiang for US$150 million.
The news came after last year's bankruptcy filing by Fisker, whose sleek, sporty electric cars caught the eye of celebrities.
A brief statement by Fisker said the deal was completed with Wanxiang America Corp.
“The completion of this transaction represents a significant achievement and is a great result for all Fisker Automotive stakeholders,'' said Marc Beilinson, Fisker's restructuring officer.
Fisker was started in southern California in 2007 by former Aston Martin and BMW designer Henrik Fisker and German business partner Bernhard Koehler.
It did not have the expected success with its sleek hybrid Karma sports car, priced at US$100,000.
Having struggled financially for some time, Fisker announced last year that it was laying off 75 percent of its workforce.—AFP

   
Other Business breaking news:
Higher US gas prices spark modest inflation in March (04-17 21:16)
Greece, creditors to hold more debt talks (04-17 21:09)
Volkswagen ends management power struggle (04-17 21:03)
GE reports US$13.6b loss due to finance unit disposal charges (04-17 20:04)
Benetton pays US$1.1m into fund for Bangladesh factory disaster victims (04-17 20:02)
Bloomberg says terminals hit by global breakdown (04-17 17:03)
Ex-IMF chief Rato assisting tax inquiry (04-17 17:00)
Hang Seng dips, Shanghai soars (04-17 16:17)
Automakers bring new models to Shanghai show (04-17 14:36)
Philippine Airlines parent returns to profit (04-17 14:22)

More breaking news >>

© 2015 The Standard, The Standard Newspapers Publishing Ltd.
Contact Us | About Us | Newsfeeds | Subscriptions | Print Ad. | Online Ad. | Street Pts

 


Home | Top News | Local | Business | China | ViewPoint | CityTalk | World | Sports | People | Central Station | Spree | Features

The Standard

Trademark and Copyright Notice: Copyright 2015, The Standard Newspaper Publishing Ltd., and its related entities. All rights reserved.  Use in whole or part of this site's content is prohibited.   Use of this Web site assumes acceptance of the
Terms of Use, Privacy Policy Statement and Copyright Policy.  Please also read our Ethics Statement.