Fisker Automotive Inc. Posts

Fisker and Wanxiang are restarting Karma production this year

Fisker Karma
Fisker Automotive was acquired by the largest auto parts company in China, Wanxiang Group. The two companies are planning to restart production of the Karma plugin hybrid luxury car within the next year.
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Fisker’s assets were sold for $149 million to Wanxiang

Fisker Karma
Wanxiang, a Chinese parts maker, has acquired Fisker’s assets for $149 million. Fisker Automotive went bankrupt in the summer of 2012. Fisker’s assets were sold to Wanxiang at the close of an auction in a Delaware bankruptcy court that lasted over two days across 19 rounds.
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Wanxiang increases offer for Fisker Automotive with an additional $10 million

Fisker Karma
Wanxiang Group is a large Chinese auto company that has increased their offer for Fisker Automotive. Wanxiang increased the offer by another $10 million in cash to around $35.7 million. Wanxiang may increase the offer by even more if the judge approves of the proposed sales process, according to an attorney with Fisker’s official committee of unsecured creditors, William Baldiga. Baldiga said that there is “considerable room to go.”

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Fisker Automotive gets an offer from Chinese manufacturing company Wanxiang

fisker-karma
Amidst bankruptcy, Fisker Automotive has received an offer from Chinese manufacturing company Wanxiang. This past November, Fisker Automotive was acquired by Hong Kong based Hybrid Technology Holdings.
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Fisker Automotive founder and executives gets sued by Atlas Capital Management

Fisker Karma
Fisker Automotive’s founder Henrik Fisker and the former directors of the company are being sued by investor Atlas Capital Management LP for over $2 million in losses that they allegedly suffered from during the bankruptcy process.

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Fisker Automotive Files For Chapter 11 Bankruptcy

Fisker Karma
Fisker Automotive has filed for Chapter 11 bankruptcy protection on Friday as part of a restructuring plan.  Hybrid Tech Holdings LLC is buying Fisker’s assets and will provide $8 million in debtor-in-possession financing for funding the sale and restructuring.

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Fisker’s Government Loan Is Being Auctioned

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The Department of Energy gave bankrupt electric car company Fisker $192 million to build their cars and a factory.  The Energy Department will look at bids today to sell off the remainder of the loan to Fisker.  Bidders have offered at least $30 million with 10% down, according to Reuters.  Fisker was worth $2 billion at one point.

Report: Fritz Nois AG Makes $25 Million Offer For Fisker Automotive

Fisker Karma
Fisker Automotive is a struggling auto manufacturer based in Anaheim, California that created one of the world’s first production plug-in hybrid electric vehicles.  Fisker spent around $1.4 billion to build the company up and this includes around $193 million in federal loans.
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