• Sign in to follow this  
    Followers 0

    Fisker Taking Bids From Geely and Dongfeng


    By William Maley

    Staff Writer - CheersandGears.com

    February 18, 2013

    The past couple of months for Fisker has been very interesting. In December, Fisker founder and Chairman Henrik Fisker said that the company was looking for "potential strategic partners". Then in January, Fisker headed off to China to talk with automakers. Now Fisker is looking at bids for a stake in the company by two Chinese automakers.

    Reuters is reporting that Fisker is weighing two bids from Zhejiang Geely Holding Group and Dongfeng Motor Group. The report says that companies from Europe and South Korea were also interested, but the two Chinese automakers sent in written bids.

    Two people familiar with the situation say the bids are worth between $200 million to $300 million and would give a majority stake to the winning bidder. Both say that Fisker is leaning towards Geely.

    Part of that comes from Geely's experience acquiring a foreign automaker, as it purchased Volvo from Ford in 2010. The other part deals with management structure. Geely has a more lean structure than Dongfeng, meaning it can complete the deal with Fisker with fewer roadblocks.

    Any deal with either company is likely to involve one other Chinese company; Wanxiang Group, who has purchased A123 systems. A123 systems was Fisker's primary battery supplier. Wanxiang Group has indicated they would be willing to help Fisker.

    Fisker, Geely, and Dongfeng aren't commenting at this time.

    Source: Reuters

    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.

    0


      Report Article
    Sign in to follow this  
    Followers 0


    User Feedback




    Kiss their technology goodbye as the Chinese take it all back to the motherland and eventually kill off Fisker.

    Another US created technology sold for instant gratification and the lack of balls on the investors to look long term.

    0

    Share this comment


    Link to comment
    Share on other sites

    Kiss their technology goodbye as the Chinese take it all back to the motherland and eventually kill off Fisker.

    Another US created technology sold for instant gratification and the lack of balls on the investors to look long term.

    That kind of thing makes this guy super happy:

    Thanks for admitting that. I think we now have more fireball Fiskers than we had pyrotechnical Pintos. And apparently it is a trait shared by all electric cars. Imagine the death and destruction if these junkers were in customers' garages in the flood zone, instead of at the port. Unsafe At Any Speed.

    The doors look tiny. The outside door handles are awkwardly low. It looks hard to get in and out of. Two chunks of long-dead wood on the interior? Are you kidding me? Looking straight on at the dash, with the placement of the vents, reminds me of an Audi TT.

    Potential buyers are taking a hell of a risk, plunking down that amount of money on a car company this young. Where is Fisker going to be in 10 years? Five years?

    http://green.autoblog.com/2012/12/29/fisker-sues-insurance-company-over-karmas-damaged-in-hurricane-s/#aolc=BScwfA

    ...and the much-deserved descent into hell continues...

    HUEHUEHUEHUEHUEHUEHUE
    0

    Share this comment


    Link to comment
    Share on other sites

    FapTurbo I understand not liking electric and it being early, but why would you be happy to have this technology taken over by another country after it was invented here and then lost to that country when the future finally gets batteries that can hold a 300-600 mile charge?

    We need to continue to invest in technology and look long term, not just short term and dollar signs.

    0

    Share this comment


    Link to comment
    Share on other sites

    FapTurbo I understand not liking electric and it being early, but why would you be happy to have this technology taken over by another country after it was invented here and then lost to that country when the future finally gets batteries that can hold a 300-600 mile charge?

    Don't ask me. Ask ol' man Ocn. He loves promising American technology and innovation being taken over by foreign firms.

    0

    Share this comment


    Link to comment
    Share on other sites

    The hell I do... your (hilarious) links prove not your point, if you have one. Where do you get yer idears from? Fisker was not going to survive, that much should be apparent. Selling it off to Chinese investors is not what I wanted to happen, I just wanted it to die here in America and be gone forever.

    I never, ever said, here or anywhere else, that I advocate selling American technology to the Chinese, or any other hostile regime.

    0

    Share this comment


    Link to comment
    Share on other sites

    It seems more like a case of Ocn fearing future technologies and anything outside his comfort zone of traditional engine technology...that's pretty obvious from any thread where hybrids or electric cars are discussed. He always craps on anything new and different. He's been hatin' on Fisker and Tesla forever...I guess haters gotta hate.

    Edited by Cubical-aka-Moltar
    3

    Share this comment


    Link to comment
    Share on other sites

    Bullcrap, companies don't die? :roflmao:

    Not anymore... they are assimilated. Any valuable assets and intellectual property are sold off to the highest bidder, in this case, that would be the Chinese.

    1

    Share this comment


    Link to comment
    Share on other sites

    Moltar, electric cars are not a new technology. They are a failed technology. Nothing to fear here.

    They are an evolving technology...why would you think they are failed? Far from it...electric car technology isn't static..it's moving forward and improving..

    Edited by Cubical-aka-Moltar
    0

    Share this comment


    Link to comment
    Share on other sites

    They've been tried. They've failed over and over again, from early 20th century to 2013... every electric vehicle in production has sold "less than expected".

    -1

    Share this comment


    Link to comment
    Share on other sites

    Moltar, electric cars are not a new technology. They are a failed technology. Nothing to fear here.

    Right... because there has been no technological progress on electric cars since the Detroit Electric. The battery technology alone is enough for the Chinese to pursue

    0

    Share this comment


    Link to comment
    Share on other sites

    From the state of things in modern electric vehicles, you are not far off the mark, Drew. There has not been much progress since that old Detroit.

    -2

    Share this comment


    Link to comment
    Share on other sites

    They've been tried. They've failed over and over again, from early 20th century to 2013... every electric vehicle in production has sold "less than expected".

    The development dollars put into them has been a mere fraction of a fraction of what has been spent on ICE cars.

    0

    Share this comment


    Link to comment
    Share on other sites

    From the state of things in modern electric vehicles, you are not far off the mark, Drew. There has not been much progress since that old Detroit.

    If you believe that, then the same goes for you.

    1

    Share this comment


    Link to comment
    Share on other sites

    Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

    -1

    Share this comment


    Link to comment
    Share on other sites

    Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

    Um, you know the Fisker has a gas engine too right? There isn't a single thing stopping you from being able to drive one from your house to Portland Maine.

    0

    Share this comment


    Link to comment
    Share on other sites

    Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

    Um, you know the Fisker has a gas engine too right? There isn't a single thing stopping you from being able to drive one from your house to Portland Maine.

    Yes, but in regards to the pure electric only auto's I still put them in the luxury golf cart category.

    Fisker is still an ugly car to me, the volt style technology I had hoped would stay in the use with an American Investment group, but it seems it will become china property sooner than most think.

    0

    Share this comment


    Link to comment
    Share on other sites

    At the end of the day, America will lose more of its ingenuity and genius to a country that actually appreciates those traits, while Yankee's will be busy continuing to focus on the real issues like who can coat the most mayonnaise on a deep fried porkwich.

    Edited by FAPTurbo
    2

    Share this comment


    Link to comment
    Share on other sites



    Your content will need to be approved by a moderator

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

    ×   You have pasted content with formatting.   Remove formatting

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

    Loading...



  • Popular Stories

  • Similar Content

    • By dfelt
      G. David Felt
      Staff Writer Alternative Energy - www.CheersandGears.com
       
      Karma - Boldly Imperfect Email
       

       
      Karma Marketing machine has started, When Fisker was sold, it was not long before the new Karma web site was setup and was very basic. Yet it did have a sign up for email information field. I did this and Karma has finally started sending out information on their upcoming new EV auto.
       

       
      Karma has decided to take the marketing approach of "Boldly Imperfect" and also sent out this video link. 
       
      Boldly Imperfect Video
       
      New Interior

       
      Karma Automotive
    • By William Maley
      Back in February, we reported on the rumors that Fisker Automotive was planning to change its name to Elux. This past week, Fisker has officially changed its name and it isn't Elux. Meet Karma Automotive.
       
      The company says this name has always been a part of the brand - see Karma plug-in hybrid sedan.
       
      "Karma is based on the principle of cause and effect, where your actions create your future. This awareness of what we are doing and why we are doing it—which we characterize as acting with intention—is what we stand for, it's authentic," said James Taylor, Karma's Chief Marketing Officer.
       
      Rumor has it that production of the Karma sedan will restart sometime next year. We expect a name change along with the production restart.
       
      Source: Karma Automotive
       
      Press Release is on Page 2


       
      Fisker Automotive Reveals New Name And Logo
      Karma Automotive - honors iconic design and communicates future direction

      COSTA MESA, Calif., Sept. 30, 2015 /PRNewswire/ -- Fisker Automotive and Technology Group announced a name change today to Karma Automotive. The company also launched its new website, including a video that reveals its new logo at karmaautomotive.com.
       

      "With new ownership, a new management team, and a new production site, all here in California, it was time to communicate change," said James Taylor, Karma's Chief Marketing Officer.
       
      "Karma" was chosen because it is relevant to both the old and new brands, while providing an aspirational message which embodies the company's purpose.
       
      "Karma is based on the principle of cause and effect, where your actions create your future. This awareness of what we are doing and why we are doing it—which we characterize as acting with intention—is what we stand for, it's authentic," added Taylor.
       
      Karma's new executive team has attracted top-tier talent from the automotive and technology industries to bring world-class expertise to its headquarters and new assembly facility in Southern California.
       
      Karma Automotive's owner, Wanxiang Group, one of the world's largest automotive component conglomerates, is committed to the alternative energy space, having acquired solar, wind and energy companies. The group provides strong financial backing necessary to build a sustainable, world-class luxury automotive brand.
    • By William Maley
      Since being bought by Chinese auto parts supplier, Wanxiang Group, Fisker Automotive has been quietly ramping back up with a new headquarters in Costa Mesa, CA, and an upcoming factory in Moreno Valley, CA. But one item that has been up in the air is when production of the Karma would restart. Speaking with The Oakland County Register, Fisker's chief marketing officer Jim Taylor said the automaker will relaunch sometime in the middle of 2016.
       
      “We want to be out next year. Midyear is our target. That’s what we’ve told the plants and our suppliers, but we won’t make any promises to say this is our launch date, get ready,” said Taylor.
       
      There is still a number of items and issues that Fisker has to work on before having vehicles rolling down the production line. At the moment, Fisker is busy hiring people for their headquarters and production facility. Complicating matters are number of delays and no real information as to changes for the model.
       
      Source: The Orange County Register
    • By bigpoolog
      California's affinity for technology, style and perceived environmental consciousness appears to have earned it some Karma.
       
      China's Wanxiang Group has announced plans to build the Fisker Karma luxury sports sedan in Moreno Valley. The 555,670 square foot Greater Los Angeles Area manufacturing facility is slated to create 150 jobs.
       
      “California's natural beauty, trend setting, technology, and environmental focus are perfectly aligned with our Karma re-launch,” said Fisker's chief marketing officer, James Taylor, adding that the company "believes in the quality, work ethic and competitiveness of manufacturing in the United States.”
       
      The plug-in hybrid Karma won accolades for styling, but financial difficulties caused the company to file for bankruptcy in November 2013, only to be purchased by Wanxiang in February 2014. The Hangzhou-based automotive parts giant also acquired battery manufacturer A123Systems in late 2012.
       
      Fisker's move comes on the heels of another Asian automaker's decision to build vehicles Stateside. Geely-owned Volvo has just announced a $500 million manufacturing facility in South Carolina, and several states are vying for Land Rover's business, a brand which has been owned by Tata Motors since 2008.
       
      Source: Autofile.ca
    • By bigpoolog
      California's affinity for technology, style and perceived environmental consciousness appears to have earned it some Karma.
       
      China's Wanxiang Group has announced plans to build the Fisker Karma luxury sports sedan in Moreno Valley. The 555,670 square foot Greater Los Angeles Area manufacturing facility is slated to create 150 jobs.
       
      “California's natural beauty, trend setting, technology, and environmental focus are perfectly aligned with our Karma re-launch,” said Fisker's chief marketing officer, James Taylor, adding that the company "believes in the quality, work ethic and competitiveness of manufacturing in the United States.”
       
      The plug-in hybrid Karma won accolades for styling, but financial difficulties caused the company to file for bankruptcy in November 2013, only to be purchased by Wanxiang in February 2014. The Hangzhou-based automotive parts giant also acquired battery manufacturer A123Systems in late 2012.
       
      Fisker's move comes on the heels of another Asian automaker's decision to build vehicles Stateside. Geely-owned Volvo has just announced a $500 million manufacturing facility in South Carolina, and several states are vying for Land Rover's business, a brand which has been owned by Tata Motors since 2008.
       
      Source: Autofile.ca


      Click here to view the article
  • Recent Status Updates

  • Who's Online (See full list)