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A123 Eyed by Foreign Bidders on Auction Date
Bankrupt battery maker A123 Systems was scheduled to go up for auction today behind closed doors at a Chicago law firm, but the list of bidders is likely to cause trouble. Millions of dollars in...
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Chinese Company Wins Auction for A123 Systems
A year riddled with controversy for electric cars is winding down, but not without at least one more flare up — Chinese firm Wanxiang Group won the bidding war for A123 Systems. Almost certain to stir...
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A123 Expects Wanxiang Sale to Finish by February
Bankrupt battery manufacturer A123 Systems expects its sale to Chinese firm Wangxiang to be complete in a little over a week. The sale raised controversy late last year because the company received...
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A123 Systems Sale to Wanxiang Group Approved by U.S. Government
Wanxiang Group’s purchase of A123 Systems Inc. has been approved by the U.S. government, despite concerns of sensitive technology being transferred to China. China’s largest auto parts maker bid about...
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Fisker Finds New Last Minute Bidder With Plans to Restart Production, Add New...
Wanxiang American Corp. has put in a “stalking horse” bid on Fisker, which is supposed to be sold to Hybrid Tech Holdings LLC for $25 million. Stalking horse bids are made to help prevent undervalued...
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Fisker Sold to Chinese Firm for $149M
China’s Wanxiang Group has emerged as the winning bidder for Fisker’s assets, agreeing to pay $149.2 million for the American electric automaker. The bidding contest came down to Wanxiang and Hybrid...
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Fiskers New Owners Teaming Up with Bob Lutz
Fisker’s new owners are teaming up with Bob Lutz to help make the V8-powered Karma a reality. The former General Motors executive announced a new company last year called VL Productions, which would...
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Fisker Karma Production to Resume Within a Year
Production of the Fisker Karma might finally resume within a year under the company’s new Chinese owners. Under its previous management, Fisker sold a scant 1,800 units before stopping production. The...
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New Fisker Plans to Bring All Concepts to Production
Do you believe in second chances? Chinese automotive group Wanxiang certainly does. The new owner of Fisker is optimistic about its future and has launched a new website under the banner of...
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Fisker’s Chinese Backer Wants Second Model
For Wanxiang, job one at Fisker is fixing roughly 250 bugs with the Karma luxury car before production can resume. After that, the goal is to launch a second model. Wanxiang chairman Lu Guanqiu told...
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Fisker Karma Relaunching Using Old Design
Don’t expect anything entirely new when Fisker relaunches under its Chinese owners. According to a recent report from Reuters, Fisker’s new owners Wanxiang Group is accelerating the relaunch of the...
View ArticleFisker Renamed Elux by Parent Company
The new owners of Fisker are looking to give the brand a new name. China’s Wanxiang Group, Fisker’s new owner, plans on renaming the company Elux and has delayed the relaunch of the Karma until...
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