Wanxiang Group said it wants to support Fisker Automotive as the struggling luxury plug-in hybrid manufacturer is the main customer of Wanxiang’s A123 Systems battery maker.
“It’s in our interest if we can help Fisker, in any way we could. They’re a customer so it will be in our best interest to support them, as a vendor or possibly in a strategic alliance,” Wanxiang America Corporation President Pin Ni told Bloomberg. The executive declined to say whether Wanxiang would invest in Fisker. Fisker spokesman Roger Ormisher also declined to comment on discussions with the Chinese company.
Wanxiang this week got approval from the Committee on Foreign Investment in the U.S. to buy most of the assets of ,A123 Systems, the battery maker backed with U.S. government funds that filed for bankruptcy in October. Because of A123’s failure, Fisker saw its supplies cut just as it was replacing flawed A123 lithium-ion packs.
Fisker last year hired Evercore Partners to find potential investors or partners as the carmaker looks to raise more money and resume production. The move came after Fisker halted production in a Delaware plant last year when the Energy Department denied access to a federal loan because of failure to meet initial sales and production goals for the Karma sedan.