Wanxiang Offers to Buy Fisker

China's Wanxiang Group has made a last-minute bid to buy the assets of U.S.-based Fisker Automotive Inc. for at least $25 million.

Wanxiang says its Wanxiang America Corp. unit aims to resume production of Fisker's $100,000 Karma extended-range hybrid car in Finland soon as next spring. It forecasts sales of 1,500 cars in the U.S. and Europe in the first 18 months of operation.

Last year Wanxiang acquired the assets of batterymaker A123 Systems Inc., whose largest customer was Fisker

Fisker filed for bankruptcy protection in Delaware two months ago. The court had scheduled a hearing on Jan. 3 to review a proposal to bypass the usual bid process and sell Fisker's assets to a consortium headed by Hong Kong billionaire Richard Li.