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Fisker Completes Asset Sale to Wanxiang
Fisker Automotive Inc. has completed the sale of virtually all its assets to an affiliate of Wanxiang America Corp. for $150 million.
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Fisker Automotive Inc. has completed the sale of virtually all its assets to an affiliate of Wanxiang America Corp. for $150 million.
The deal was approved by a Delaware bankruptcy court in February after Chicago-based Wanxiang America prevailed in a last-minute court-run auction to sell the bankrupt maker of the Fisker Karma hybrid sport sedan.
Wanxiang has vowed to relaunch Karma production through Finland's Valmet Automotive at an unspecified time.
The Chinese company says it also wants to introduce three Fisker concepts, the Sunset convertible, Surf sport wagon and midsize Atlantic sedan. Wanxiang has been vague about when or if it might eventually move production to a former General Motors Co. factory in Wilmington, Del.
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