Chinese company Wanxiang was in the news earlier this year, as it moved to acquire bankrupt automotive battery company A123. Turns out, while that was taking place in the public eye, Wanxiang was also working with VL Automotive – of Bob Lutz and Destino fame – to try and buy out Fisker Automotive.
According to unnamed sources speaking to Reuters, VL and Wanxiang made Fisker an offer earlier in May to buy the troubled plug-in hybrid automaker through a "prepackaged bankruptcy deal." The talks are apparently ongoing and could well fall through, but it certainly makes sense for both Wanxiang and VL to want Fisker to survive in some manner. A123 supplied the Karma's battery cells and VL needs Karma bodies if it's going to build more than a small number of V8-powered Destinos.
At the end of April, Lutz wrote an article about Fisker's DOE Loan in which he called the Karma, "quite possibly the most beautiful four-door sedan ever." In that article, he also wrote, "The green craze is, frankly, ebbing, and interest in conventional cars remains strong." He's also called his gasoline-powered Destino the Karma that people will actually want to buy.
Reuters also notes there is another deal in the works from European and Hong Kong investors that would buy Fisker's $171-million debt that it owes the US DOE.
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