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.
The company reportedly hired a law firm for a possible bankruptcy in March and they laid off 75% of their staff in the next month. Now there are just about over 50 employees working at the company.
Fisker Automotive has just received an offer for a buyout from German investment company Fritz Nois AG. Fritz has offered around $25 million for Fisker, according to Autobild.
This potential acquisition would require approval from the U.S. Department of Energy.
Edit: This article title has been updated. A previous version of this article did not have the word “million” in the title.