Fisker Might Choose Geely as its Partner or Strategic Investor image

According to anonymous sources Fisker might choose China’s Zhejiang Geely Holding Group as its partner or strategic investor.

“The company has received detailed proposals from multiple parties in different continents which are now being evaluated by the company and its advisors, ” Fisker spokesman Roger Ormisher said in an email over the weekend.

Currently, the troubled automaker Fisker, is weighing bids from two Chinese companies: state-owned Dongfeng Motor and Geely, which also owns Volvo. The Chinese companies’ interest in Fisker, shows, once again, the country’s efforts to push into alternative fuel vehicles, as it tries to clear the intensely polluted cities and boost the green technology sector. As Fisker is under a tight deadline, it hopes to close a deal by mid-March.

According to the sources, both companies gave offers worth between $200 million to $300 million, but the automaker seems to prefer Geely, which is considered by the company ‘more serious’ and ‘passionate’ about Fisker’s technology. Geely is also expected to move faster compared with Dongfeng, ‘whose responsiveness could be hampered by its multi-layered decision-making structure.’

Victor Yang, a Geely spokesman in Hangzhou, said: “we are not in position to comment on this at the moment.”