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Fisker Hopes to Find a Buyer by February
Fisker Automotive Inc. aims to identify a buyer within weeks, according to The Wall Street Journal.
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Fisker Automotive Inc. aims to identify a buyer within weeks, according to The Wall Street Journal.
The newspaper cites unidentified sources who say two prospective purchasers have hired banks to study possible bids for the maker of the $107,900 Karma plug-in hybrid sport sedan.
Fisker has been struggling for nearly a year after the U.S. Dept. of Energy froze its $529 million loan last February. The company hired Evercore Partners Inc. early last year to help it find a buyer, partner or investor.
Any would-be buyer is likely to come from Asia, according to the Journal. It says Fisker has held talks with Wanxiang Group Corp, the Chinese company that won an auction in December to buy assets from bankrupt lithium-ion battery maker A123 Systems Inc.
Last year Fisker recalled the Karma three times, shed nearly half its staff and suspended work on its Atlantic midsize hybrid sedan. In November the company said it was forced to halt Karma production because A123 had stopped shipping batteries for the car.
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