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William Maley

Karma News: Fisker Taking Bids From Geely and Dongfeng

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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.


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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.

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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

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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.

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Sad to see an American car company seeking investment from China because potential investors in the US have their head up their collective asses.

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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.

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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.

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Well wishing for an American company to be dead equals "I support the pillaging of American ingenuity and technology by foreign companies!"

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Bullcrap, companies don't die? :roflmao:

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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
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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.

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

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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

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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".

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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

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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.

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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.

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Duh, why would any sane automotive company spend money on something people have shown they do not want? I mean jeez. Get real.

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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.

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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.

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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.

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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.

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