Chinese Car Maker Geely Could Own Fisker in the Future
|   Tuesday, February 26, 2013
Chinese firm Geely, better known as the firm that purchased Volvo off Ford back in 2010, is being hailed as the next owner of Fisker. Geely is expected to claim a majority stake in Fisker as the brand is set to be sold out, according to a report by news dailies in China. Geely is tight-lipped about the deal at the moment and the insiders could not be contacted for comments.

The company headquarters in Hangzhou had been contacted but no official comment was made available to the sources.
China has however accepted that it had sent a team of expert engineers to America to understand the advanced policies related to efficient engineering, design and technology. The yet to be confirmed bid by Geely to control a major stake in Fisker came into light as another Chinese giant Dongfeng Motor made a bid to purchase stake in Fisker.

Insiders from Dongfeng refused comment on the situation and it is understood that the offers from Dongfeng and Geely are not the only two offers that are being considered by officials from Fisker at the moment. Fisker is best remembered for developing the Karma sedan which went on to become quite popular with the masses.

Fisker spokespersons were heard commenting that they have a vast number of propositions to choose from and as a result things could take time to mature. The current value of the brand is being calculated and the suitors are from different parts of the world. Bids could be within $200 - $500 Million and the figures were estimated by a Fisker insider. Fisker could team up either Dongfeng or Geely to stabilize its financial condition.

Fisker currently is deep down in loans, amounting to $520 Million and the entire proceeds came from the US Government. The loan was provided by the Government as Fisker was developing electric drive train technologies that would reduce CO2 emission, hence reducing environment pollution. However, the plan did not mature as expected and hence the company is currently on the verge of collapsing. This merger is the only way to stay afloat at the moment.

Fisker had purchased a factory off General Motors to accommodate the research team and provide infrastructure and the company had to lose its purse strings to fund the project. However, Fisker filed for bankruptcy as its potent battery dealer – A 123 Systems - for the Karma sedan went bankrupt. This also put a potential smaller vehicle from Fisker on hold for the moment. The vehicle was supposed to go on sale in 2013. However that seems to be an impossible target at the moment.

The Karma sedan was a very potent vehicle and Fisker was on the verge of being recognized on a global platform. However, the firm could make a potent comeback in the future if the current plans are implemented and the ownership is transferred effectively. As of now the future seems to be bleak and there are no immediate plans of production from Fisker.
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