Fisker's Savior Could Come From China
Start-up plug-in car company Fisker Automotive may have started in Anaheim, Calif., but the troubled automaker's operations could be moving to China. According to USA Today, Fisker is interested in selling a controlling stake of the company, and an interested party is Dongfeng Motor Corp., one of China's largest automakers.
USA Today reports that the Wuhan, China-based company has made a $350 million offer that would give it a majority stake of the company. Fisker is seeking investors to keep it afloat after a year full of production delays, recalls and financial setbacks, including the loss of Department of Energy loans, a CEO shakeup and employee layoffs.
The company's only vehicle, the Karma sedan, retails for $103,000, including a $1,000 destination charge, and is no longer in production since battery supplier A123 Systems Inc. filed for bankruptcy last year. In light of its troubles, Fisker has also shelved plans to produce the smaller and more affordable Atlantic extended-range electric sedan.