Latest News on Wanxiang and FA - Page 3 - Fisker Buzz Forums
Fisker Buzz Forums

User Tag List

Reply
 
LinkBack Thread Tools
Old 05-18-2014, 01:40 AM   #21 (permalink)
Member
 
Join Date: Nov 2013
Location: Vancouver, BC
Posts: 51
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 5 Post(s)
Garage
Default Email from New Fisker

[MOVED]
Just got this email from 'The New Fisker'

"Dear Fisker enthusiast,

We at 'The New Fisker' would like to sincerely thank you for the email you sent via the website and greatly appreciate the time you have taken to reach out to the new company. The details of your correspondence are being reviewed by members of our devoted team, who are truly passionate about responding to you individually and personally. We understand the email you submitted is important to you, and we assure you, it is also important to us. We are aware some emails were submitted over 30 days ago and greatly appreciate your patience. As you may know, ‘The New Fisker’ is just over 45 days old, computer systems are coming back on line, people are being hired and hired back, and we are now emerging from the remnants of the old company.

The good news is; we are very well funded and have a great plan to create a world class automotive company. However, we are bound by the rules of the Bankruptcy Court and limited in what we can do relative to the old company and any unsecured claims. Please also note; in purchasing the assets from the estate for a significant cash figure, the estate is responsible for settling all past due claims to the best of its ability.

Once again, we appreciate your patience while we have been working on a response specific to your submission, and look forward to providing you with additional detailed information. Although not every response will be favorable, each will be honest and delivered with integrity.

Thank you,

The New Fisker team.​"

Anyone else get this??

Last edited by LonePalmBJ; 05-18-2014 at 06:06 PM.
VancouverKarma is offline   Reply With Quote
Old 05-18-2014, 06:31 PM   #22 (permalink)
Super Moderator
 
SoCalGuy's Avatar
 
Join Date: Jun 2011
Location: LA/NYC
Posts: 1,975
Mentioned: 7 Post(s)
Tagged: 0 Thread(s)
Quoted: 36 Post(s)
Garage
Default

I think the e-mail is "a day late and a dollar short" - all signs thus far have pointed to New Fisker being not too dissimilar from the Old Fisker. Actions speak louder than ambiguous, noncommittal, tardy words. Let's all wait and see, but given the folks involved in the new enterprise, I am not holding my breath.
__________________
Proud owner of two 2012 Fisker Karma EcoSports:Patience (Silver Wind/Black Sand Monotone) and Oski (Earth/Monsoon Tritone)
SoCalGuy is offline   Reply With Quote
Old 05-19-2014, 12:24 PM   #23 (permalink)
Guest
 
Join Date: Jul 2012
Posts: 996
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 25 Post(s)
Default

http://www.bloomberg.com/news/2014-0...val-china.html

Quote:
The Chinese billionaire who bought Fisker Automotive Holdings Inc. at a bankruptcy auction is planning to build a new slate of electric-drive cars in the U.S., challenging Tesla Motors Inc. (TSLA) on its home turf.
Lu Guanqiu, the chairman and founder of China’s Wanxiang Group Corp., plans to manufacture electric cars in the U.S. and ultimately in China, he said in his first extensive interview since prevailing in a February bidding war for Fisker’s assets.
“I’ll put every cent that Wanxiang earns into making electric vehicles,” he said at Wanxiang’s headquarters in Hangzhou, Zhejiang province. “I’ll burn as much cash as it takes to succeed, or until Wanxiang goes bust.”
Interactive Graphic: Compare the Fortunes of the World's Top 200 Billionaires
Lu’s plan pits him against the likes of Elon Musk, the chief executive officer of Tesla, which has quickly added workers to churn out its $72,000 Model S. Each mogul aspires to move his company beyond the U.S. to sell lower-emission cars in China -- the world’s largest auto market, with some of the worst air pollution.
“Fisker brings a unique edge and owning the company no doubt benefits Wanxiang in terms of gaining access to technologies that would otherwise take them years to develop,” said Harry Chen, an automotive analyst with Guotai Junan Securities Co. in Shenzhen. “To succeed it ultimately has to start production in China and manufacturing in U.S. is just a stepping stone.”
Technical Flaws

Lu, 69, made tractor parts during China’s Cultural Revolution and has nursed a desire to build cars since the 1980s, he said. Now he has a fortune of $3.1 billion, according to data compiled by Bloomberg. Musk, worth about $9.2 billion, said earlier this year he expects China will become Tesla’s biggest market.
Wanxiang, China’s largest auto-parts maker, is hoping to build upon the remains of Fisker, whose plug-in hybrid sports car, the Karma, won raves for its low-slung design and rants from critics for its technical flaws. The $103,000 Karma was made in Finland. Fisker filed for bankruptcy in late 2013, before it could make good on its plan to use an Energy Department loan to produce a second model in the U.S.
Fisker nonetheless sparked a bidding war between Chinese suitors, who would gain about three dozen current and pending Fisker patents. Wanxiang’s $149.2 million offer topped bids from Hong Kong investor Richard Li’s Hybrid Tech Holdings LLC.
Chinese Promises

The Fisker estate included an abandoned General Motors Co. (GM) plant in Wilmington, Delaware, providing Wanxiang an entry point for selling cars in the U.S. -- a goal that’s eluded Chinese carmakers such as BYD Co. and Great Wall Motor Co. (2333) Geely Automobile Holdings Ltd. and Chery Automobile Co. have made predictions as far back as 2005 to enter the U.S. market, though they’ve yet to sell their first car in America.
Wanxiang aims to produce the Karma model in the U.S. and later make other extended-range hybrids there, the company said on May 17. It declined to offer a timeline or other details.
Lu said in last week’s interview that he expects Wanxiang to receive a license to manufacture electric cars in China, without offering specifics. The company already has a permit, granted in October, to build electric buses and trucks there.
“The road is still very long,” Lu said. “We want to concentrate for now on manufacturing in the U.S. If I don’t succeed, my son will continue with it. If he doesn’t make it, my grandson will.”
Romney’s ‘Loser’

Fisker’s collapse, after struggling with battery defects, negative reviews and missed production targets, ultimately cost U.S. taxpayers $139 million. U.S. presidential candidate Mitt Romney called the company a “loser” during 2012 debates in criticizing President Barack Obama’s energy policies.
The U.S. recovered nothing from Wanxiang’s bid: As much as $90 million is earmarked for Li’s Hybrid Tech, which paid the Energy Department $25 million last year to take over the Fisker loan.
“While the outcome is not what we hoped for, the Department explored every option available and closely followed federal legal processes in an effort to get the best possible recovery for the taxpayer,” said Dawn Selak, an Energy Department spokeswoman.
U.S. officials had said their deal with Hybrid Tech required it to build cars in the country. Lu didn’t specify whether U.S. production would take place in Wilmington.
Peasant Parents

Born to peasants in 1945 in Hangzhou, Lu became an apprentice at a state-owned metalworks at the age of 15, before starting a flour mill in his village and, later, a bicycle repair shop. In 1969, Lu pooled money with six other farmers in to set up a tractor repair shop for his commune. Wanxiang took its Chinese name from the universal joints -- a part used in drive shafts -- that it produced.
Lu quit a three-pack-a-day smoking habit to win a bet with a local steel-mill boss in order to secure supplies for his factory, he said, wincing at the memory. He hasn’t smoked since, he said. “I said I would do it, and I did,” he said, shifting between the local Xiaoshan dialect and heavily accented Mandarin.
Today, Wanxiang’s publicly traded units include auto-parts maker Wanxiang Qianchao Co. (000559), seed and fertilizer producer Wanxiang Doneed Co., beverage-maker Hebei Chengde LoLo Co. (000848) and Shunfa Hengye Corp. (000631), a real-estate developer. Wanxiang also owns a 3.7 percent stake in Shanghai-traded Guangzhou Automobile Group Co. (601238), the manufacturing partner of Toyota Motor Corp., Honda Motor Co. and Fiat SpA. (F) The Wanxiang conglomerate earned 7.85 billion yuan ($1.3 billion) last year in profit.
Elusive Dream

Still, Lu hasn’t made good on his dream of making cars.
In the early 1980s, Lu visited the state-owned First and Second Automotive Works -- predecessors of today’s China FAW Group Corp. and Dongfeng Motor Corp. -- and saw Jiefang-brand vehicles emerging every five minutes. He thought that was impressive until he visited a GM plant in Detroit in 1985 and saw cars coming off the line less than a minute apart.
“I felt out of my depth and doubted I had the ability to make it in this industry,” said Lu, who gets around in a Lexus LS600HL hybrid. “Since then, the gulf in technology between foreign and Chinese automakers has widened.”
Lu said he chose to focus on electric vehicles because Wanxiang had no edge in the crowded field of conventional automobiles. Wanxiang has invested 5 billion yuan to develop electric vehicles since 1999, once suspending production after realizing its model wasn’t reliable enough to compete, said Lu.
Instead, the company focused on electric buses, he said. Today, 700 of Wanxiang’s electric buses are in trial operations in Shanghai, Qingdao and Hangzhou, according to the company.
‘Buying Brains’

Wanxiang last year bought most of the assets of Fisker’s battery supplier, A123 Systems, which collapsed under the cost of recalling defective power packs. The acquisitions give Wanxiang enough know-how to enter the auto industry, said Lu, comparing the deals to “buying brains.”
Meanwhile, foreign automakers such as Tesla and Nissan Motor Co. (7201) are pushing to win a share of the new-energy vehicle market in China as the government tries to promote cleaner transportation. Tesla, based in Palo Alto, California, delivered its first Model S cars to Chinese buyers last month and is building a network of battery-charging stations in China. It plans to manufacture locally “at some point” in the next three or four years, Musk has said.
“Tesla is already competing in arguably one of the most brutally competitive global industries,” said Simon Sproule, a company spokesman. “The only truth in our industry is that the best product combined with the best customer care will earn the right to stay in business.”
Lu said there are “no shortcuts” to competing against foreign automakers, adding that a successful company accrues its competitive advantage over time.
“Anyone who says you can make a generational leap is just bluffing,” he said.
smoothoperator is offline   Reply With Quote
 
Old 05-19-2014, 01:12 PM   #24 (permalink)
Member
 
Join Date: Jan 2013
Posts: 99
Mentioned: 2 Post(s)
Tagged: 0 Thread(s)
Quoted: 16 Post(s)
Default

I reached out to Wanxiang USA because the 'contact us' page on the New Fisker site was not working. Surprisingly, I got a very quick response back from them and they forwarded my email onto the group at Wanxiang charged with dealing with Fisker. Equally surprisingly, I got a very quick response back from Roger Brown, whose email title listed him as the Interim President of Fisker Automotive & Technology LLC. In a nutshell he seemed to sympathize with our frustration as Fisker Owners, but said it was the ongoing lien negotiations and court approval process of responses that was the bottleneck at this time.

Hopefully it wasn't just lip service and they are actually trying to figure out how to deal with existing owners and also move forward.

I'll leave it with the positive - the 'New' Fisker actually responded to me which is way more than the 'Old' Fisker did.
Arch fisker is offline   Reply With Quote
Old 05-19-2014, 01:22 PM   #25 (permalink)
Super Moderator
 
SoCalGuy's Avatar
 
Join Date: Jun 2011
Location: LA/NYC
Posts: 1,975
Mentioned: 7 Post(s)
Tagged: 0 Thread(s)
Quoted: 36 Post(s)
Garage
Default

Quote:
Originally Posted by Arch fisker View Post
I reached out to Wanxiang USA because the 'contact us' page on the New Fisker site was not working. Surprisingly, I got a very quick response back from them and they forwarded my email onto the group at Wanxiang charged with dealing with Fisker. Equally surprisingly, I got a very quick response back from Roger Brown, whose email title listed him as the Interim President of Fisker Automotive & Technology LLC. In a nutshell he seemed to sympathize with our frustration as Fisker Owners, but said it was the ongoing lien negotiations and court approval process of responses that was the bottleneck at this time.

Hopefully it wasn't just lip service and they are actually trying to figure out how to deal with existing owners and also move forward.

I'll leave it with the positive - the 'New' Fisker actually responded to me which is way more than the 'Old' Fisker did.
How long ago was that?

I will say that when LaSorda was in charge, he was incredibly response and got stuff done. If Wax was smart, they would hire LaSorda back and bring in some new, young blood to reinvigorate the company. The folks at New FA are dinosaurs.
__________________
Proud owner of two 2012 Fisker Karma EcoSports:Patience (Silver Wind/Black Sand Monotone) and Oski (Earth/Monsoon Tritone)
SoCalGuy is offline   Reply With Quote
Old 05-19-2014, 03:58 PM   #26 (permalink)
Super Moderator
 
Fabulist's Avatar
 
Join Date: Apr 2011
Location: San Francisco, CA
Posts: 4,657
Mentioned: 43 Post(s)
Tagged: 1 Thread(s)
Quoted: 401 Post(s)
Default

Despite what my posts on the subject may imply, I do have sympathy for the complexity of working through the bankruptcy process and trying the clear the wreckage left behind by Fisker's former management, and given the amount of money Waxiang has invested up to this point, I think they deserve our patience and support while they sort all of this out. What bothers me is that Fisker++ is starting off on the wrong foot by keeping the existing customers in the dark as much as the original Fisker did. I don't think it would take a whole lot of extra effort to just keep us updated on what's going on, without making any commitments or statements that could negatively impact their negotiations or legal positions. They are also missing a huge opportunity to create goodwill and support by failing to stay in touch with us via this forum, FB, Twitter, etc. Radio silence was not a good strategy for old Fisker, and the new management needs to not repeat the same mistake.
__________________
-- Fab.

Original owner of 2012 Eco Sport Black (Eclipse) with Monsoon Tritone Interior. VIN: -0641
Fabulist is offline   Reply With Quote
Old 05-19-2014, 05:30 PM   #27 (permalink)
Senior Member
 
Join Date: Mar 2010
Location: Oakland (Montclair)
Posts: 913
Mentioned: 4 Post(s)
Tagged: 0 Thread(s)
Quoted: 42 Post(s)
Default

Quote:
Originally Posted by Fabulist View Post
... They are also missing a huge opportunity to create goodwill and support by failing to stay in touch with us via this forum, FB, Twitter, etc. Radio silence was not a good strategy for old Fisker, and the new management needs to not repeat the same mistake.
Not intending to speak for them but I suspect they're making a common mistake one gets when hiring lawyers: if you ask them "what's the safest way to proceed, legally speaking, around this or that delicate issue" the answer is usually "say as little as possible".

They/you need to ask instead: "we want to say X, can you defend us if we get sued for doing so..."
ct-fiskerbuzz is offline   Reply With Quote
Old 05-19-2014, 10:05 PM   #28 (permalink)
Super Moderator
 
SoCalGuy's Avatar
 
Join Date: Jun 2011
Location: LA/NYC
Posts: 1,975
Mentioned: 7 Post(s)
Tagged: 0 Thread(s)
Quoted: 36 Post(s)
Garage
Default

I think you guys are also failing to realize that New Fisker is hiring much of the Old Fisker gang back - you know, the same guys who were responsible for the cones of silence and other errant decisions. Posawatz may not be back, but many/most middle management are as are many other junior people. We should start the Bring Back LaSorda campaign - or at the very least, urge New Fisker to hire some younger folks with a more dot-com startup mentality.

I worry that Lu might be trying to make a small fortune the old fashioned way - start with a large one and buy a failed EV automaker =)
__________________
Proud owner of two 2012 Fisker Karma EcoSports:Patience (Silver Wind/Black Sand Monotone) and Oski (Earth/Monsoon Tritone)
SoCalGuy is offline   Reply With Quote
Old 05-20-2014, 09:28 AM   #29 (permalink)
Member
 
Struthers's Avatar
 
Join Date: Dec 2012
Location: Seminole, Florida
Posts: 78
Mentioned: 1 Post(s)
Tagged: 0 Thread(s)
Quoted: 15 Post(s)
Garage
Default

I read this post but didn't see what I read on the new Fisker website yesterday. See below and sorry if it was already posted. I tried emailing them all day yesterday but kept getting errors. It's pretty sad that they are obviously not going to help us owners too much. That won't even cover a minor warranty job. And they are pretty well protected under the law for any kind of class action lawsuit but I think enough bad publicity by all of us may make a difference.

I purchased a Fisker - will my car still be under warranty?

Pursuant to the United States Bankruptcy Court for the District of Delaware sale order, Wanxiang America Corporation could only assume an agreement that was dictated by another buyer, so Wanxiang America Corporation was not allowed to change the Asset Purchase Agreement.* Within the Purchase Agreement, Section 1.10 (i) provides up to $2,000 per each vehicle warrantied (ii) capped at $400,000 in the aggregate. *We understand if you are an owner and paid good money for your vehicle, $2,000 is not what you bargained for or expected. Please understand that this provision was part of the court order that Wanxiang America Corporation assumed and accepted.* We are already hard at work discussing ways that we can make this a better experience for all current Fisker owners and hope to bring better news to each owner in the near future
__________________
2019 Karma Revero

Last edited by Struthers; 05-20-2014 at 09:38 AM.
Struthers is offline   Reply With Quote
Old 05-20-2014, 09:55 AM   #30 (permalink)
Senior Member
 
Sigurd's Avatar
 
Join Date: Sep 2011
Location: Dallas area.
Posts: 1,001
Mentioned: 14 Post(s)
Tagged: 0 Thread(s)
Quoted: 74 Post(s)
Default

I think we should all be patient and not jump to conclusions. Right now I want Wanx to get the company through BK as quickly as possible and complete negotiations with the various parties. Then when they are in a position to come out publicly with something concrete to offer us, I will make up my mind if I think it's enough or not.
__________________
Sigurd
Signature Edition Karma #72
Sigurd is offline   Reply With Quote
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On


Similar Threads
Thread Thread Starter Forum Replies Last Post
Is the Karma "green"? Brian's latest video SoCalGuy Fisker Karma 4 08-02-2012 11:58 PM
Brian, what's latest with your car? SoCalGuy Fisker Karma 20 01-20-2012 06:20 PM
Latest Info I recieved on my order. EVS Motors Inc. Fisker Karma 3 05-09-2010 01:05 PM
Fisker bumps up latest funding round to $175m Wimbledon The Fisker Lounge 0 05-07-2010 12:23 AM

Powered by vBadvanced CMPS v3.2.3

All times are GMT -4. The time now is 01:01 AM.



Powered by vBulletin® Copyright ©2000 - 2020, Jelsoft Enterprises Ltd.
Search Engine Friendly URLs by vBSEO 3.6.0 PL2
Garage Plus vBulletin Plugins by Drive Thru Online, Inc.
User Alert System provided by Advanced User Tagging (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2020 DragonByte Technologies Ltd.