Chinese Firm Purchased Fisker

A $149 million deal was signed by Wanxiang Group which won the bid for the bankrupt American brand.

There were two bidders at the final stage of the contest – the winning company competed with Hybrid Tech Holdings. The sale will legally be affected today. The defeated bidder is owned by the Chinese billionaire and once acted as the investor to the company.

This year’s purchase was a logical continuation of the one conducted in 2013 when Wanxiang bought the assets of another bankrupt – A123 Systems Inc., which supplied charging elements to Fisker.

The future of Fisker under Wanxiang’s rule remains unclear.