Monday, November 24, 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

   
Other Business breaking news:
German business confidence index Ifo rises in November (11-24 17:11)
Hang Seng, Shanghai jump on PBoC rate cute (11-24 16:31)
European stocks mixed at open (11-24 16:15)
Hang Seng jumps by lunch (11-24 12:26)
PBOC to inject liquidity if necessary (11-21 19:03)
China cuts interest rates (11-21 18:41)
Indexes track Connect (11-21 17:35)
ECB chief says will ramp up asset purchases 'without delay' (11-21 17:09)
European stocks rise at open (11-21 16:23)
Hang Seng ends higher (11-21 16:22)

More breaking news >>

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