Wanxiang Corporation sets highest bid for Fisker Automotive of $149.2 million
Ameya Naik
1 min read
Feb 17, 2014, 09:31 PM
We knew about Fisker Automotive filing for bankruptcy in November 2013 and since then there have been discussions about who will take over this company. Fisker, best known for the plug-in hybrid electric cars, was sentenced to an auctioning process after which, the preferred bidder for the company has been identified as Wanxiang Corporation, China's largest auto parts group.
Lu Guanqiu, head of China's largest auto parts group, went through 19 rounds of bidding and the battle was between him and Richard Li, the Hong Kong telecom tycoon. The result of the auction will be declared tomorrow but Lu's company looks to be the front runner.
The Wanxiang Corporation made a bid worth approximately $149m, with $126m in cash, $8m in assumed liabilities, and equity injected into a Wanxiang affiliate that would take over the carmaker. While the decision is yet to be declared, it looks like Lu's Wanxiang corporation will win the bid.
Latest News
car&bike Team | May 13, 2026Kia Carens Clavis EV Now Available At Rs 12.84 Lakh Under BaaS PlanUnder the scheme, the Standard variant’s (42 kWh) effective purchase price drops from Rs 17.99 lakh to Rs 12.84 lakh, translating to a difference of Rs 5.15 lakh.2 mins read
car&bike Team | May 13, 2026Honda City Facelift Spied Undisguised Ahead of DebutCosmetic updates to the sedan include a new look grille, more angular headlamps and a redesigned front bumper.1 min read
Seshan Vijayraghvan | May 13, 2026BYD To Hike Car Prices Across Its Range From July 1 In IndiaThe revision will happen across the company’s current model range, and the hike will be in the range of 1-2 per cent, depending on the model and variant.1 min read
car&bike Team | May 13, 2026Android Auto Gets Major Update With New UI, Video Streaming And Gemini IntegrationAndroid Auto’s biggest update brings a redesigned interface with widgets and a new immersive Google Maps experience, while supported cars will also gain YouTube video streaming and Dolby Atmos audio support later this year.1 min read
Jaiveer Mehra | May 13, 2026Jaguar’s Four-Door Electric GT Named Type 01; Unveil In 2026The first model to lead Jaguar’s rebirth as an EV only brand will make its debut in production guise later this year.1 min read
Bilal Firfiray | May 13, 2026Lamborghini Revuelto NA63 Celebrates An Important (And Eccentric) Milestone; And It’s Only For AmericaLimited to just 63 units, the NA63 Edition celebrates Lamborghini’s 63rd birthday, and it will be sold exclusively in the North American and Canadian markets.2 mins read
Preetam Bora | May 11, 20262026 Suzuki Burgman Street 125 Review: What’s Good, What’s Not?The new Suzuki Burgman Street 125 gets refreshed design, minor but meaningful tweaks to the engine, a stiffened chassis, new features and more. But is it worth recommending? Read on, to find out.8 mins read
Bilal Firfiray | May 11, 2026Audi SQ8 Review: The Performance SUV That Actually Makes SenseThe Audi SQ8 has the performance of a V8 seamlessly combined with the everyday luxury and comfort, making it one of the most complete performance SUVs on sale in India today.5 mins read
Jafar Rizvi | May 3, 2026River Indie Gen 3 Long Term Report: 1 Month, 400 km AfterAfter a month and 400 km, the River Indie impresses with its utility-first approach, smooth ride and standout design, despite a few everyday usability compromises.8 mins read
Bilal Firfiray | May 2, 2026Volkswagen Taigun Facelift Review: Still The Driver’s SUV, But Improved!The updated Volkswagen Taigun gets a new 8-speed automatic, a refreshed design, and added features. But does it still deliver the best driving experience in the C-SUV segment?5 mins read
Shams Raza Naqvi | Apr 29, 2026Toyota Innova Hycross Vs Mahindra XEV 9S: Choosing The Right Three Row Family MoverIn a battle of three-row cars the electric Mahindra XEV 9S takes on the Toyota Innova Hycross. Which one ticks more boxes?1 min read