Fisker Accelerates Search for Buyers and Investors image

Fisker accelerates its search for investors and buyers, a move which will help the company keep operating.

People familiar with this situation said that Fisker, the automaker partially funded through the Obama administration program to promote EVs, plans to find a suitor by the end of February. Currently Fisker is running out of money and supply, and it isn’t producing any vehicle as the automaker’s battery supplier A123 Systems is in bankruptcy and works to sell itself.

If Fisker will manage to find a partner or investor, it will be able to remain an independent automaker, if not, a sale of the company is the ultimate solution. China and other countries in Asia are the most interested in the company, as government’s here are working on increasing EVs sales and are therefore interested in Fisker’s electric-vehicle technology.

Rumors say that Wanxiang America, a unit of the Chinese Wanxiang Group, is already in talks with Fisker. Wanxiang also agreed in 2012 to buy A123 Systems and is currently waiting for the US government approval. Finding an investor will help Fisker move on with its plans to manufacture its second model, the Atlantic, which the automaker wants to sell for about half the price of its Karma sold for $100,000.