Fisker Said to Weigh Bids From Suitors Including Dongfeng

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Thread: Fisker Said to Weigh Bids From Suitors Including Dongfeng

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    GMI Canada Editor Premium Member ne_one's Avatar
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    Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Fisker Said to Weigh Bids From Suitors Including Dongfeng
    Bloomberg
    February 15, 2013
    by David Welch & Zijing Wu

    Fisker Automotive Inc., the U.S. plug-in hybrid carmaker seeking a buyer, is weighing several bids, including a $350 million offer from Dongfeng Motor Corp. that would give the Chinese carmaker majority control, said people with knowledge of the matter.

    Dongfeng, based in Wuhan, China, would gain 85 percent of Fisker under the terms of its bid, said one of the people, who asked not to be named because the process is private. Fisker had sought bids by Feb. 6, according to that person.

    Teaming up with Dongfeng could help Anaheim, California- based Fisker solidify its turnaround and give it the funds to pay back loans from the U.S. government. The maker of the Karma luxury rechargeable-car had to halt production last year after battery supplier A123 Systems Inc. filed for bankruptcy, and said last week that it would begin making vehicles again “fairly soon.”

    Fisker, led by Chief Executive Officer Tony Posawatz, said in December that it was working with Evercore Partners Inc. to find potential investors or partners. Without a partner or a buyer by midyear, Fisker may face a cash crunch, a person familiar with the matter said last month. Posawatz once served as vehicle line director for the Volt.

    Full article at link.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    So we gave it $500 million, only for China to buy it...?
    Have sales for GM not seen in THIS POST? Email Me

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    come on GM...buy them!
    IF IT AINT RWD; AND A CHEVY I DONT RIDE IT!!!!!

    ALL CHEVY'S NEED TO BE RWD!!!!!

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Quote Originally Posted by PHAT-JAY View Post
    come on GM...buy them!
    For what? They make subsidized BBQs.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    right now the Chinese are the only People with Money
    and I think GM should NOT spend that sort of money on a car CO that is yet to make ANY money

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    I feel like GM should have bought A123 Systems. Giving that away robbed the US of our leading Li-ion battery maker.

    Fisker, however, does nothing that GM hasn't done or doesn't do better. Considering they already use GM components in their vehicles, I wouldn't be surprised if GM already knows anything useful Fisker could offer.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    $350 Million could buy GM a nice sister car for the ELR in the Karma, which already uses some GM components... It also would keep another manufacturer from building higher end electric vehicles to sell and compete with GM in the U.S.... One who isn't as inept as Fisker... That would be the primary reason to buy out Fisker. But I don't see it happening.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Just love our Government.
    After receiving our tax money a sale to a foreign entity should be banned, especially a Government owned company.
    This just pisses me off big time

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Quote Originally Posted by richmond2000 View Post
    right now the Chinese are the only People with Money
    and I think GM should NOT spend that sort of money on a car CO that is yet to make ANY money
    Buffett is not short of cash yet.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    It was only a matter of time. Fisker simply doesn't have the money or infrastructure to scale or compete in the EV game, especially when the only vehicle you have is 100K. Fisker trying to compete with GM, Toyota or any of the other juggernauts was foolish.

    Didn’t anyone see a problem when Fisker kept coming back for more and more and more money with nothing to show for it? The big makers don’t need Fisker in any way. There might be a couple small makers that want to get in the game, but even they know the initial investment is the easy part. It will cost multi-billions to continue developing the technology and actually becoming a significant player. There's really no reason for anyone to aquire Fisker at all.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Maybe Malcolm Bricklin might want a crack at it?
    strange things are afoot at the circle k.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Oh people stop please when we invest in these companies there is no guarantee that we will get a return but if you want to grow a industry it is worth the effort. Out of all the companies we spent on most have made it but some will fail that is life. There is worst to pull your hair about than this even though I would hate for the Chinese to get it. Still Fisker has issues and can die for all I care Tesla is the real gem that GM should buy but never will.
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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Quote Originally Posted by 1.21 giggawatts View Post
    Maybe Malcolm Bricklin might want a crack at it?
    Anyone remember DeLorean?

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Fisker never was going to be a viable company and only existed on loans and grants and handouts. Tesla has a chance of surviving but I think Fisker is a real loser. GM should not even think about buying Fisker.

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    Re: Fisker Said to Weigh Bids From Suitors Including Dongfeng

    Quote Originally Posted by steve333 View Post
    Just love our Government.
    After receiving our tax money a sale to a foreign entity should be banned, especially a Government owned company.
    This just pisses me off big time
    I agree.

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