Fisker Buzz Forums banner

1 - 20 of 41 Posts

·
Super Moderator
Joined
·
1,183 Posts
I'm not sure how Reuters can claim an "Exclusive" since I've seen this story from several other sources today, and there are already a couple of threads on FiskerBuzz discussing it. (Fab: Might make sense to merge them all into this one to provide a single, on topic place to discuss)

I think this has the potential to be very good news.
 

·
Registered
Joined
·
854 Posts
I'm not sure how Reuters can claim an "Exclusive" since I've seen this story from several other sources today,
Those other articles got their info from Reuters, which has pretty much been the only source of info regarding Fisker's various attempts at negotiating a buyout.

Agree with a merge.
 

·
Registered
Joined
·
14 Posts
fisker buyers emerging

cnbc just reported that VL Auto and Wanxiang are pitching to buy Fisker. They also claim that European and Hong Kong Buyers are looking as well. Thats 3 potential buyers. Don't sell your car just yet….
 

·
Registered
Joined
·
59 Posts
Let's hope that this happens. I imagine that they would concentrate on production of the Atlantic rather that the Karma if it is ready to go from a design standpoint. Most importantly though, we would have parts/service for our Karmas.
 

·
Registered
Joined
·
479 Posts

·
Premium Member
Joined
·
4,659 Posts
interesting that Fisker Auto has recently been removed from the KPCB website
Not really. No one likes to list their failures* on their resume.

* No flames, please. From KPCB's prospective, their investment in FA has been a failure because it has not made them any money. Helping create something as creative, complex, and beautiful as the Karma was a great accomplishment to be sure, but KPCB is not DARPA and their ultimate goal is to make a profit, and they will most likely lose their Saville row bespoke shirts on this one.
 

·
Registered
Joined
·
245 Posts
Kudos Sandy Eggo maybe your lunch talk primed him for a relatively positive analyst comment, not like those private equity shouldn't be in automotive analysis!
 

·
EX:Shadow/Canyon #324
Joined
·
1,217 Posts
There are new details in this article from the WSJ. Since all readers may not have access, here is the pertinent info:

At least two investor groups have expressed interest in salvaging Fisker Automotive Inc., the troubled maker of luxury plug-in hybrid cars, but their proposals would require the Obama administration to accept pennies on the dollar to retire a taxpayer-funded loan.

One group maneuvering for control of Fisker includes Wanxiang Group, the Chinese auto-parts maker that bought electric-car battery supplier A123 Systems Inc. out of bankruptcy, and VL Automotive, a startup company that has considered using Fisker's Karma sedan as the shell for a high-powered gasoline-fueled sports car.

The Wanxiang-VL Automotive group is proposing a so-called stalking horse bid for some of Fisker's assets in a prearranged bankruptcy filing, according to people familiar with the discussions.

Wanxiang and VL Automotive—which counts former General Motors Co. Vice Chairman Bob Lutz among its backers—would pay about $20 million for some Fisker assets, but not the former GM assembly plant in Wilmington, Del., that it owns, those people said.

Meanwhile, a separate investment group is proposing to buy the U.S. government loan outside of bankruptcy for around $25 million. The investor group then would remarket the company, free of the entanglement of the government loan, one of these people said.


Personally, I'm still dubious that the DOE will accept "pennies on the dollar", especially outside of a bankruptcy. We shall see...
 

·
Registered
Joined
·
479 Posts
Kudos Sandy Eggo maybe your lunch talk primed him for a relatively positive analyst comment, not like those private equity shouldn't be in automotive analysis!
Yep, quite possibly. It also helps that he has seen the car and agrees it's outstanding. He's a serious enthusiast and collector.

The funny part is that the author of the article had arranged to speak to him about Tesla but when they got on the phone, she only wanted to talk about Fisker. He was probably thanking his lucky stars I had just filled his head full of useful information.
 

·
Premium Member
Joined
·
4,659 Posts
Personally, I'm still dubious that the DOE will accept "pennies on the dollar", especially outside of a bankruptcy. We shall see...
I agree, particularly if the buyer is just going to turn around and sell the company free from the encumbrance (as the article implies) rather than operate it as a going concern, which would have at least the possibility of additional payments down the road to the DOE if they take some equity along with the cash.
 

·
Early Adopter
Joined
·
1,256 Posts
If we get 25 owners and put a million in each, we can beat the 20m offer and get decent terms from doe ?
 
1 - 20 of 41 Posts
Top