Fisker Assets Sold For $149 Million To Wanxiang, Chinese Parts Maker

 

  Bloomberg reports that the Chinese company paid a total of $149.2 million for the company, or six times the price of $25 million first offered by unsuccessful bidder Hybrid Tech Holdings, whose opening bid was $55 million as the auction began.

  Winning bidder Wanxiang is China's largest auto-parts group. It also owns A123 Systems, the lithium-ion cell maker whose batteries were used in the luxury range-extended electric Fisker Karma sedan.

  Winning bidder Wanxiang is China's largest auto-parts group. It also owns A123 Systems, the lithium-ion cell maker whose batteries were used in the luxury range-extended electric Fisker Karma sedan.

  2,500 Karmas built

  Fisker Automotive built about 2,500 Karmas before halting production in July 2012 after a recall of defective cells by A123 four months earlier. A123 itself declared bankruptcy in October 2012; Wanxiang purchased A123's assets in January 2013.

  The sale to Wanxiang must still be approved by Judge Gross; it will be presented to him on Tuesday.

  While the price of almost $150 million approached the outstanding DoE loan balance of $168 million, it does not appear that the DoE will see any of that money.

  Its loan was sold to Hybrid Tech Holdings, the secretive Hong Kong-based company controlled by businessman Richard Li--an early investor in Fisker.

  But Judge Gross ruled that Hybrid Tech can only recoup $25 million--or what it paid for the DoE loan--from the sale proceeds. Instead, the sale proceeds will be used to pay off Fisker's other, unsecured creditors.

  Hybrid Tech issued a statement last night following the auction:

  After actively bidding in the auction, Hybrid has elected to retain its rights as a lender rather than continue to bid for ownership of Fisker.

  Hybrid acquired the Department of Energy’s secured loan of US$168 million in November 2013, and is the senior secured creditor of Fisker. After repayment of its debtor-in-possession financing and certain other costs incurred as part of the bankruptcy proceedings, Hybrid is entitled to be repaid ahead of the unsecured creditors on account of its security and, in relation to any assets that are ultimately determined to be unencumbered, will share in those assets together with all other creditors.

  Hybrid will consider taking all necessary steps and appropriate measures to protect its interests in this matter, and remains committed to exploring other long term investment opportunities in the United States.

  Becoming a U.S. carmaker?

  Both Wanxiang and Hybrid Tech have said they plan to utilize Fisker's assembly plant near Wilmington, Delaware, for future plug-in car production.

  In a statement last month, U.S. Energy Secretary Ernest Moniz said the winning bidder for Fisker's assets would have to keep both development and assembly in the United States.

  Fisker bought the Delaware plant for $20 million in 2010, but it has remained empty since then, with assembly of the Karma performed by subcontractor Valmet in Finland.

  Thus far, Wanxiang has not developed and sold entire vehicles, but only parts and subassemblies.

  With a nine-figure investment in Fisker's assets, it appears that may be about to change.

0

想看更多 不感兴趣
重复、旧闻
内容质量差
确定
动力电池回收市场正崛起,谁在争利?谁在节能?
动力电池态势:上下游两头挤压 企业降成本压力大
奇瑞山东新能源基地5月投产,产能10万辆
大器晚成?在自动驾驶领域已经落后的丰田,如何补上追赶这堂课
超威动力2016年报:铅酸蓄电池产品实现销售收入155亿元
日产新一代Leaf路测谍照曝光 将采用锂离子电池
新晋选手大PK 自动驾驶市场争夺战再升温
伦敦出租车公司新工厂竣工 吉利新能源战略推广更近一步
东风汽车:今年销量目标335万辆 新能源汽车破3万辆
白沙与小二租车签订协议 推广新能源汽车应用
目前国内新建新能源汽车公司约有200家 总投资额将达3000亿元
国家发改委:严控传统燃油汽车产能
深圳新能源产业发展2017年第一批扶持计划发布
东风汽车:2016年新能源汽车销量达2.4万辆,今年目标破3万辆
小二租车与海南白沙签订协议 推广新能源汽车应用
尤夫股份:新能源车产业创收1.57亿元,2017年将全面发力
北漂中年初体验 自主品牌纯电动SUV怎么样
只需十年:自动驾驶车辆的未来发展阶段及趋势预测
闪耀广本之夜 讴歌NEW MDX正式亮相搭载世界首创三电机混合动力四驱系统
东风汽车:未与一汽谈合并 仅谈技术合作
下一篇

[2014中国年度绿色汽车]专家评委 吴志新

绿色汽车,评选,吴志新



第三方登录
纯净阅读
意见反馈

反馈和建议 在线回复

第一电动网
Hello world!