Friday, July 25, 2014   

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

   
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