Jump to content
Create New...
  • William Maley
    William Maley

    Geely Drops Out Of Bidding For Fisker Stake

    By William Maley

    Staff Writer - CheersandGears.com

    March 19, 2013

    Last month, we reported that Fisker had two possible bidders for a possible stake in the company. The two bidders in question were Zhejiang Geely Holding Group and Dongfeng Motor Group. At the time, Fisker was leaning towards Geely due to the company's experience of acquiring a foreign automaker (Volvo) and management structure.

    But Geely has dropped their bid for Fisker. Two sources tell Reuters that the reason Geely dropped their bid was due to Fisker's obligations to the U.S. Government which included obligation to restore capacity and jobs at Fisker's Delaware plant according to a schedule imposed by the government.

    "Those obligations are too complicated to handle and seem too risky. The plan's footprint was too big. It would take a long, long time to fill up the plant with products and restore employment there," a source said.

    This leaves Dongfeng Motor Group as the sole bidder for Fisker. The company sent their final bid last week.

    As for those who think this was why former Fisker chairman and founder Henrik Fisker stepped down, sources explain this is not related.

    Source: Reuters

    William Maley is a staff writer for Cheers & Gears. He can be reached at [email protected] or you can follow him on twitter at @realmudmonster.

    User Feedback

    Recommended Comments

    Right and if you believe that I have a awesome Ski cabin in North Korea to sell you too.

    The government requirements and tie up will make most companies rethink the situation.

    Take a high risk china company, let them buy the technology and then they will say they cannot make this work and declare bankruptcy and disappear along with the technology and then it will reappear in the form of a new Chinese company. They are good at pirating / stealing products from America.

    • Agree 1
    Link to comment
    Share on other sites



    Join the conversation

    You can post now and register later. If you have an account, sign in now to post with your account.
    Note: Your post will require moderator approval before it will be visible.

    Guest
    Add a comment...

    ×   Pasted as rich text.   Paste as plain text instead

      Only 75 emoji are allowed.

    ×   Your link has been automatically embedded.   Display as a link instead

    ×   Your previous content has been restored.   Clear editor

    ×   You cannot paste images directly. Upload or insert images from URL.


  • google-news-icon.png



×
×
  • Create New...

Hey there, we noticed you're using an ad-blocker. We're a small site that is supported by ads or subscriptions. We rely on these to pay for server costs and vehicle reviews.  Please consider whitelisting us in your ad-blocker, or if you really like what you see, you can pick up one of our subscriptions for just $1.75 a month or $15 a year. It may not seem like a lot, but it goes a long way to help support real, honest content, that isn't generated by an AI bot.

See you out there.

Drew
Editor-in-Chief

Write what you are looking for and press enter or click the search icon to begin your search