Jump to content
  • William Maley
    William Maley
    Sign in to follow this  

    Energy Department Puts Fisker's Loan On Auction

    William Maley

    Staff Writer - CheersandGears.com

    September 19, 2013

    The U.S. Department of Energy has announced this week they will be putting up Fisker Automotive's $164 Million loan up for auction next month. This is in a effort to try and recoup as much money as they can.

    "After exhausting any realistic possibility for a sale that might have protected our entire investment, the Department announced today that we are auctioning the remainder of Fisker's loan obligation, offering the best possible recovery for the taxpayer," said Peter Davidson, director of the Loan Program Office at the Department of Energy in a blog post.

    "Consistent with the intent and statutory purpose of the Advanced Technology Vehicles Manufacturing program, the Department will require all bids to include a commitment and business plan that promotes domestic manufacturing capabilities and related engineering for advanced technology vehicles here in the United States."

    So who will be putting in a bid for Fisker? Well we have a list of possible suitors. We have the founder of the company, Henrik Fisker who has teamed up Hong Kong-based investor Richard Li, Chinese automotive supplier Wanxiang Group and Bob Lutz's VL Automotive, and German investment group Fritz Nols AG.

    Source: Green Car Reports

    William Maley is a staff writer for Cheers & Gears. He can be reached at william.maley@cheersandgears.com or you can follow him on twitter at @realmudmonster.

    Sign in to follow this  

    User Feedback

    Recommended Comments

    Not like this was expected, I hope that Bob Lutz's team gets the remains. Fisker and his Chinease partners needs to just go away. He had his chance and blew it.

    Bob Lutz's first choice

    German Group Second Choice

    Share this comment

    Link to comment
    Share on other sites

    Your content will need to be approved by a moderator

    You are commenting as a guest. If you have an account, please sign in.
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.

About us

CheersandGears.com - Founded 2001

We ♥ Cars

Get in touch

Follow us

Recent tweets