Geely might buy Fisker
 

Geely seen as Fisker's preferred purchaser
Shanghai Daily, February 19, 2013

China's Zhejiang Geely Holding Group is favored to secure a majority stake in troubled US electric car maker Fisker Automotive, according to two sources familiar with Fisker's search for a strategic investor or partner.

Fisker, the Anaheim-based plug-in hybrid maker, is currently weighing bids from two Chinese auto makers: Geely, the owner of Sweden's Volvo, and Dongfeng Motor Group Co.

The interest in Fisker reflects China's strong push into alternative fuel cars as it seeks to foster the green technology sector and clear the increasingly polluted skies of its cities.

The knowledgeable individuals said both offers, which Fisker received in the last three weeks, were worth between US$200 million and US$300 million. A deal would give the suitors a majority stake in the southern Californian company, they said.

The sources, who are close to Fisker, said Geely appeared to be the preferred suitor.

Fisker's corporate leaders and their advisers believe Geely is "more serious" and "passionate" about Fisker and its technology, one of the individuals said.

The Hangzhou-based company also "can move fast" in making decisions - unlike Dongfeng, whose responsiveness could be hampered by its multi-layered decision-making structure typical in a Chinese state-owned enterprise, according to the source.

That quality is likely to work against Dongfeng, since Fisker is under a tight deadline to find a suitor, he added.

"Most of all, with Geely we're dealing with one decision maker," the individual said, referring to its charismatic founder and chairman, Li Shufu.

Li is also deemed a better suitor due to his experience in making cross-border acquisitions. In 2010, Geely acquired all of Volvo from its previous owner Ford Motor Co.

"Overall, we think Geely is a better fit," the individual said.

The sources noted that Geely had already sent a team of engineers to Anaheim to evaluate Fisker and its technology for battery-powered electric cars with a small gasoline engine used to extend the car's driving range.

http://www.autoguide.com/auto-news/w...sker-karma.jpg

http://www.reuters.com/article/2013/...91H05G20130218

Fisker Automotive could be bought by China's Geely | Digital Trends

lolwut


Electrical cars would be awesome in Chinarrrr assuming they don't catch on fire :lawl:, help alot with the pollution there.

I think China is 1 day ahead of us

yes china is one day ahead of canada, also china automotive companies would buy just about any struggling car company period & they have no idea what to do with it later

^ I know damm well chinarrr is a day faster but the most important point is Timpo posted something that isn't 6 months ago.

Cheap china lipo batteries, will be even cheaper now in those fiskers
Posted via RS Mobile

Isn't China the worlds main supplier of lithium ion?

I think the actual battery cells are from Japan, but the battery units/casing are put together and built in China. I am speaking for consumer electronics, of course. for an Electric car, the batteries might be made entirely in Japan or something.

200-300 mill is chump chain for a company like Geely. all they need to do is ask some top rank govnt officials for some 'partnership' and fiskers will throught metro china by nxt year