Tuesday, February 18, 2014

China now has a luxury electric car brand

Failed US electric/hybrid car-maker Fisker is now owned by China’s Wanxiang Group after a $149 million bid at Fisker’s bankruptcy auction. That’s six times more than Fisker was seeking to recover from bankruptcy, reports Bloomberg.
The Chinese conglomerate – which makes automobile parts, solar tech, and has a large US HQ in Chicago – now owns 18 Fisker patents covering things like electric-vehicle drivetrain technology and Fisker’s distinctive grille design. Other assets include an abandoned General Motors plant in Wilmington.
Wanxiang already owns EV battery-maker A123 Systems, which supplied power units to Fisker.