Monday, February 18, 2013

Fisker to become chinese?

It's no big secret that Fisker isn't in the best of financial health.

They need about $500 million to launch their second model, the smaller and cheaper Atlantic.
A $55 000 model like the Atlantic would be much more popular than the $100 000 Karma.

The loan they were supposed to get from the government was also frozen. Due to delay in car production.
And A123 Systems, the company that was making the batteries for the Karma, went out of business.
So Fisker hasn't produced a new car in a bout 7 months now.
Not good.

Last week there were rumors that Chinese car maker Dongfeng was interested in purchasing 85 % of the company for $350 million.
Now the L.A Times is reporting that Geely is interested.
The same Geely that bought Volvo in 2010.

Geely seems to be a stronger company.
And Fisker might not be in a position to refuse the offer.

Dongfeng wants to move production of the Karma from Finland to China.
Not sure what Geely would do. (The smaller Atlantic was supposed to be built in the US.)

Let's hope Fisker can be saved. Also let's hope production doesn't end up in China....


Anonymous said...

If a Chinese company buys Fisker, the company should pay back in full the $529 million dollar loan the company recieved from the Federal Goverment.

Anonymous said...

If ANY foreign company buys Fisker, the company should pay back the federal loan immediately.

DRB said...

Fisker needs to partner up with VL Automotive, Lutz's new boutique venture that is using the Karma's body (with some tweaks) but stuffing the nose with the ZR-1's engine. Then sell them side-by-side - one for the enthusiast, the other for his (or her) green-mined partner.

Anonymous said...

We pay income taxes to subsidise ANOTHER almost broke company that makes cars WE CAN'T AFFORD TO BUY. WHY? Just so we can sell it to the Chinese for 10 cents on the dollar??? The only thing uglier than this car are the government officials behind it!!!