[Harleyguy]

It's over Wanxiang Won

http://www.startribune.com/nation/245488461.html

 

[Nin ja]

Well , this means the VL Automotive will participate in the enahnacement of the Karma and that means more part availability and given Lutz relatioship with dealers, maybe we get some coverage for the warranties, or am i dreaming?

 

[Harleyguy]

Well , this means the VL Automotive will participate in the enahnacement of the Karma and that means more part availability and given Lutz relatioship with dealers, maybe we get some coverage for the warranties, or am i dreaming?

Your dreaming The important piece of the puzzle is the Fisker brand and Logo

 

[SoCalGuy]

Let's hope they have a robust warranty program reinstated for existing Karma owners.

 

[Harleyguy]

Let's hope they have a robust warranty program reinstated for existing Karma owners.

That's going to be the biggest question.

 

[Mikey43]

Think that it is equally important that we know that ALL parts will eventually become available, and that a dealer network will be re-established. And certainly, this should establish a more realistic market for our cars in the future.

Certainly a far better place than we were a few months ago.

 

[Ira]

That's going to be the biggest question.

Agree. But at a minimum we should be able to get parts (including batteries) if we want to keep our Karmas running.

Wanxiang has also talked about restarting production. If true, I wonder how this will affect the Karma market?

 

[Harleyguy]

Think that it is equally important that we know that ALL parts will eventually become available, and that a dealer network will be re-established. And certainly, this should establish a more realistic market for our cars in the future.

Certainly a far better place than we were a few months ago.

Hey Mike
Biggest problem with parts is the availability of them many of the suppliers stopped producing parts a long time a go and had no intention to start reproducing them .

 

[Ira]

Hey Mike
Biggest problem with parts is the availability of them many of the suppliers stopped producing parts a long time a go and had no intention to start reproducing them .

I agree with Mike. Why would one of the world's largest automotive parts suppliers spend nearly $400M buying A123 and FA if they have no plans to restart production? Suppliers will supply parts if they get paid. What am I missing?

http://www.ocregister.com/articles/bankruptcy-601901-fisker-wanxiang.html

 

[Sandy Eggo]

I could be off by a few million $ but doesn't that auction result ($149 M) lead to a Taxpayer loss of zippo?

 

[dennis]

I could be off by a few million $ but doesn't that auction result ($149 M) lead to a Taxpayer loss of zippo?

Richard Li/Hybrid bought the DOE loan from the US for $25M. That is all that the taxpayers got. I don't know how the $149M will be allocated, but none of it is going to the taxpayers (or the equity holders for that matter).

 

[dennis]

It's over Wanxiang Won

http://www.startribune.com/nation/245488461.html

IMO that is a much better outcome for the owners. In contrast to Richard Li, Wanxiang has lots of experience in the automotive industry and has invested heavily in purchasing A123 and Fisker.

 

[Ira]

Richard Li/Hybrid bought the DOE loan from the US for $25M. That is all that the taxpayers got. I don't know how the $149M will be allocated, but none of it is going to the taxpayers (or the equity holders for that matter).

Right Dennis. Wanxiang's $149.2M pie will most likely be split among the stakeholders in that room: the creditor's committee, FA, and possibly even Richard Li, who owned the DOE loan and might have gotten something to make him go away.

We may never know what agreement they reached behind closed doors. All we know is that Wanxiang got Fisker Automotive's assets, and the taxpayer's got squat from the deal.

 

[doug]

It's over Wanxiang Won

http://www.startribune.com/nation/245488461.html

Every time I see that name all I can think is

Everybody have fun tonight!
Everybody Wanxiang tonight!

https://www.youtube.com/watch?v=BoXu6QmxpJE

Your dreaming The important piece of the puzzle is the Fisker brand and Logo

I read an article somewhere that Fisker Automotive didn't actually own the brand nor logo. It said they are owned by Fisker Coachbuild and only licensed for use by Fisker Automotive.

 

[fyre238]

I'm sure a company as large as Wanxiang is capable of reverse engineering parts. I do lots of my own car repair and have a few cars and every part is made in China. I think they can make the parts needed that others used to make to keep their company running . As for the Name and Logo i would think they have a plan already otherwise why dish out so much money for Fisker.

 

[Fabulist]

Another article about the auction result: http://www.autonews.com/article/20140214/OEM05/302149926?template=mobile&X-IgnoreUserAgent=1
And this the most ominous sounding sentence from the report:

"'After actively bidding in the auction, Hybrid has elected to retain its rights as a lender rather than continue to bid for ownership of Fisker,'Hybrid said in a statement."

Not sure what this means exactly, but it does not sound like Hybrid Tech is going to slip into the night quietly.

 

[Eric Karma]

Another article about the auction result: http://www.autonews.com/article/20140214/OEM05/302149926?template=mobile&X-IgnoreUserAgent=1
And this the most ominous sounding sentence from the report:

"'After actively bidding in the auction, Hybrid has elected to retain its rights as a lender rather than continue to bid for ownership of Fisker,'Hybrid said in a statement."

Not sure what this means exactly, but it does not sound like Hybrid Tech is going to slip into the night quietly.

Sounds like Li is simply a lender, like a bank is a lender to a corporation. Fisker now owned by wanxiang, owes him $25 million. He has no control or ownership whatsoever. But he's not going to just walk away from $25M.

 

[Sigurd]

I think it's more like $164 million that Fisker owes Mr. Li, but hopefully they negotiated a "payoff" lower than that. I can't imagine they would have made the final bid without all the loose ends tied up. They would of course have been better off having bid on the debt Mr. Li bought from the DOE for $25 million.

 

[Sandy Eggo]

Another article about the auction result: http://www.autonews.com/article/20140214/OEM05/302149926?template=mobile&X-IgnoreUserAgent=1
And this the most ominous sounding sentence from the report:

"'After actively bidding in the auction, Hybrid has elected to retain its rights as a lender rather than continue to bid for ownership of Fisker,'Hybrid said in a statement."

Not sure what this means exactly, but it does not sound like Hybrid Tech is going to slip into the night quietly.

It feels like to me Li is saying, "Screw you guys, I didn't *lose* the auction - I simply *chose* not to participate any longer...and btw, you owe me a bunch of money."

As someone else mentioned, Li is probably being paid handsomely to just walk away. Maybe the guy isn't as stupid as the reputation that precedes him would have people believe.

 

[Nin ja]

Li just secured his investment in Fisker by buying the loan, otherwise he would of been another "loser". I'm sure he'll recoup his previous investment, his continued support of the business, DOE loan and his legal fees - he'll do fine.