China’s Wanxiang Looking to Aid Fisker

4 years ago by Eric Loveday 1

Fisker Karma.

Fisker Karma.

Wanxiang logo.

Wanxiang logo.

The latest bit of news trickling in on the Fisker-A123Systems-Wanxiang front, is information that Wanxiang America Corporation, a division of China’s Wanxiang, is showing interest in coming to the aid of struggling Fisker Automotive. 

(You can read some of the most recent backstory about Fisker’s woes here and Wanxiang’s recent approval to take over A123 here

Crain’s Chicago Business reports that Wanxiang isn’t interest in outright purchasing Fisker.  Rather, it seems Wanxiang hopes to offer a “helping hand.”  By this statement, it’s believed Wanxiang will look to either invest in, partner with or become a key supplier to Fisker in the near future.   This make sense since Wanxiang now owns A123 Systems, manufacturer of battery packs for the Fisker Karma.

If Wanxiang America decides to invest, the Chinese government will have to grant approval.  It’s also likely that the US government will have to be involved in the deal since DOE money was granted to Fisker.

Is Wanxiang the strategic partner that Fisker has been seeking for some time now?

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One response to "China’s Wanxiang Looking to Aid Fisker"

  1. Roy_H says:

    This sounds like good news for Fisker. We are all turning purple holding our breath while waiting for critical Fisker news.

    Will the insurance company cough up the $33M for the Karmas lost to hurricane Sandy? They might weasel out on a technicality, but you buy insurance to cover such incidents with the reasonable expectation of collecting. If Fisker doesn’t get to collect, they are in serious cash crunch.It’s not like it was Fisker’s fault.

    With A123 going bankrupt, any deal with Fisker would be null and void. This means a new negotiation and new price. Fisker is not likely to be able to afford a price increase for their batteries, so if Wanxiang is willing to give a sweet deal for some ownership in Fisker, then this could be a life saver for Fisker.

    If these two issues conclude favorably for Fisker, and they are able to get back on track with manufacturing the Atlantic, then I think Fisker has a chance at surviving without having to be bought outright by some major auto company.