Fisker saga finally ends after Wanxiang wins asset auction with 149M bid

Almost six times more compared to what Fisker asked when filing for bankrputcy

China's Wanxiang Group agreed to pay a 149.2M USD bid to buy the remaining assets of Fisker Automotive.

The sum represents almost six times more than what Fisker asked when they filed for bankruptcy back in November and Wanxiang managed to win the auction after no less than 19 rounds of bidding. The offer encompasses 126.2M USD in cash and an additional 8M in assumed liabilities. Throughout the bidding war Wanxiang had to battle with Hybrid Tech Holdings and now not only do they have Fisker but they already own the successor to the American firm which supplied batteries for the Karma.

One can only hope that Wanxiang will put Fisker back on the automotive map in a short while with the condition that U.S. Bankruptcy Judge Kevin Gross will approve the sale on February 18 in Wilmington, Delaware.

Source: bloomberg.com