Karma News: Fisker Taking Bids From Geely and Dongfeng

[William Maley]

By William Maley

Staff Writer - CheersandGears.com

February 18, 2013

The past couple of months for Fisker has been very interesting. In December, Fisker founder and Chairman Henrik Fisker said that the company was looking for "potential strategic partners". Then in January, Fisker headed off to China to talk with automakers. Now Fisker is looking at bids for a stake in the company by two Chinese automakers.

Reuters is reporting that Fisker is weighing two bids from Zhejiang Geely Holding Group and Dongfeng Motor Group. The report says that companies from Europe and South Korea were also interested, but the two Chinese automakers sent in written bids.

Two people familiar with the situation say the bids are worth between $200 million to $300 million and would give a majority stake to the winning bidder. Both say that Fisker is leaning towards Geely.

Part of that comes from Geely's experience acquiring a foreign automaker, as it purchased Volvo from Ford in 2010. The other part deals with management structure. Geely has a more lean structure than Dongfeng, meaning it can complete the deal with Fisker with fewer roadblocks.

Any deal with either company is likely to involve one other Chinese company; Wanxiang Group, who has purchased A123 systems. A123 systems was Fisker's primary battery supplier. Wanxiang Group has indicated they would be willing to help Fisker.

Fisker, Geely, and Dongfeng aren't commenting at this time.

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.

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[G. David Felt]

Kiss their technology goodbye as the Chinese take it all back to the motherland and eventually kill off Fisker.

Another US created technology sold for instant gratification and the lack of balls on the investors to look long term.

[FAPTurbo]

Kiss their technology goodbye as the Chinese take it all back to the motherland and eventually kill off Fisker.

Another US created technology sold for instant gratification and the lack of balls on the investors to look long term.

That kind of thing makes this guy super happy:

Thanks for admitting that. I think we now have more fireball Fiskers than we had pyrotechnical Pintos. And apparently it is a trait shared by all electric cars. Imagine the death and destruction if these junkers were in customers' garages in the flood zone, instead of at the port. Unsafe At Any Speed.

The doors look tiny. The outside door handles are awkwardly low. It looks hard to get in and out of. Two chunks of long-dead wood on the interior? Are you kidding me? Looking straight on at the dash, with the placement of the vents, reminds me of an Audi TT.

Potential buyers are taking a hell of a risk, plunking down that amount of money on a car company this young. Where is Fisker going to be in 10 years? Five years?

http://green.autoblog.com/2012/12/29/fisker-sues-insurance-company-over-karmas-damaged-in-hurricane-s/#aolc=BScwfA

...and the much-deserved descent into hell continues...

HUEHUEHUEHUEHUEHUEHUE

[G. David Felt]

FapTurbo I understand not liking electric and it being early, but why would you be happy to have this technology taken over by another country after it was invented here and then lost to that country when the future finally gets batteries that can hold a 300-600 mile charge?

We need to continue to invest in technology and look long term, not just short term and dollar signs.

[Robert Hall]

Sad to see an American car company seeking investment from China because potential investors in the US have their head up their collective asses.

[FAPTurbo]

FapTurbo I understand not liking electric and it being early, but why would you be happy to have this technology taken over by another country after it was invented here and then lost to that country when the future finally gets batteries that can hold a 300-600 mile charge?

Don't ask me. Ask ol' man Ocn. He loves promising American technology and innovation being taken over by foreign firms.

[ocnblu]

The hell I do... your (hilarious) links prove not your point, if you have one. Where do you get yer idears from? Fisker was not going to survive, that much should be apparent. Selling it off to Chinese investors is not what I wanted to happen, I just wanted it to die here in America and be gone forever.

I never, ever said, here or anywhere else, that I advocate selling American technology to the Chinese, or any other hostile regime.

[FAPTurbo]

Well wishing for an American company to be dead equals "I support the pillaging of American ingenuity and technology by foreign companies!"

[Intrepidation]

Exactly, companies don't "die" they get bought out either whole or in pieces by foreign companies.

[ocnblu]

Bullcrap, companies don't die?

[Robert Hall]

It seems more like a case of Ocn fearing future technologies and anything outside his comfort zone of traditional engine technology...that's pretty obvious from any thread where hybrids or electric cars are discussed. He always craps on anything new and different. He's been hatin' on Fisker and Tesla forever...I guess haters gotta hate.

Edited February 21, 2013 by Cubical-aka-Moltar

[Drew Dowdell]

Bullcrap, companies don't die?

Not anymore... they are assimilated. Any valuable assets and intellectual property are sold off to the highest bidder, in this case, that would be the Chinese.

[ocnblu]

Moltar, electric cars are not a new technology. They are a failed technology. Nothing to fear here.

[Robert Hall]

Moltar, electric cars are not a new technology. They are a failed technology. Nothing to fear here.

They are an evolving technology...why would you think they are failed? Far from it...electric car technology isn't static..it's moving forward and improving..

Edited February 22, 2013 by Cubical-aka-Moltar

[ocnblu]

They've been tried. They've failed over and over again, from early 20th century to 2013... every electric vehicle in production has sold "less than expected".

[Drew Dowdell]

Moltar, electric cars are not a new technology. They are a failed technology. Nothing to fear here.

Right... because there has been no technological progress on electric cars since the Detroit Electric. The battery technology alone is enough for the Chinese to pursue

[ocnblu]

From the state of things in modern electric vehicles, you are not far off the mark, Drew. There has not been much progress since that old Detroit.

[Drew Dowdell]

They've been tried. They've failed over and over again, from early 20th century to 2013... every electric vehicle in production has sold "less than expected".

The development dollars put into them has been a mere fraction of a fraction of what has been spent on ICE cars.

[ocnblu]

Duh, why would any sane automotive company spend money on something people have shown they do not want? I mean jeez. Get real.

[Drew Dowdell]

From the state of things in modern electric vehicles, you are not far off the mark, Drew. There has not been much progress since that old Detroit.

If you believe that, then the same goes for you.

[G. David Felt]

Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

[Drew Dowdell]

Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

Um, you know the Fisker has a gas engine too right? There isn't a single thing stopping you from being able to drive one from your house to Portland Maine.

[ocnblu]

[G. David Felt]

Luxury Golf Carts for Inner City use is the best use at this time. They are not sensible or practical for real world use across any decent distance.

Um, you know the Fisker has a gas engine too right? There isn't a single thing stopping you from being able to drive one from your house to Portland Maine.

Yes, but in regards to the pure electric only auto's I still put them in the luxury golf cart category.

Fisker is still an ugly car to me, the volt style technology I had hoped would stay in the use with an American Investment group, but it seems it will become china property sooner than most think.

[Drew Dowdell]

The Fisker setup is similar to Volt in results only..... the Volt is far more advanced.

[FAPTurbo]

At the end of the day, America will lose more of its ingenuity and genius to a country that actually appreciates those traits, while Yankee's will be busy continuing to focus on the real issues like who can coat the most mayonnaise on a deep fried porkwich.

Edited February 22, 2013 by FAPTurbo

[G. David Felt]

At the end of the day, America will lose more of its ingenuity and genius to a country that actually appreciates those traits, while Yankee's will be busy continuing to focus on the real issues like who can coat the most mayonnaise on a deep fried porkwich.

Or how many deep fried Twinkies they can stick in their mouth.

[ocnblu]

At the end of the day, America will lose more of its ingenuity and genius to a country that actually appreciates those traits, while Yankee's will be busy continuing to focus on the real issues like who can coat the most mayonnaise on a deep fried porkwich.

...he said from Canada

[Robert Hall]

<rant>

There are always luddites and businesses whose only interest is in maintaining the status quo--oil companies and conservatives for instance. They hold back and slow innovation as they are stuck to paradigms of the past rather than moving forward...it happens with any technology. Technology has to evolve and move forward. No point in living in the past. Stifling innovation because it doesn't agree with your obsolete views isn't good for countries or industries.

</rant>

Edited February 22, 2013 by Cubical-aka-Moltar

[Robert Hall]

At the end of the day, America will lose more of its ingenuity and genius to a country that actually appreciates those traits, while Yankee's will be busy continuing to focus on the real issues like who can coat the most mayonnaise on a deep fried porkwich.

<rant>

So true... we have so much potential and skill in this country, but innovation is often stifled by the corrupt corporate and political interests and the luddites...and so much time is wasted arguing with people about trivial bull&#036;h&#33;. Such is life.

</rant>

Edited February 22, 2013 by Cubical-aka-Moltar

[ocnblu]

Maybe I should trot out some Focus Electric sales figures. Yes, we're all fools because we don't want to drive a car that requires a tether.

[Robert Hall]

Maybe I should trot out some Focus Electric sales figures. Yes, we're all fools because we don't want to drive a car that requires a tether.

You miss the point...

[FAPTurbo]

Maybe I should trot out some Focus Electric sales figures.

You sound exactly like the bean counters at GM who use sales figures as the only measure of success and a rationale for cutting models and ideas that could have had a chance to grow.

Why not trot out Apple Lisa sales figures and use them to declare personal computers to not be worth anyone's time, while you're at it?

Yes, we're all fools because we don't want to drive a car that requires a tether.

No, people are fools for rooting for new technology to fail. There were people who thought that steam-power was a bad idea. There were people who thought international flight was a bad idea.

Nobody is begrudging your decision to not drive an electric. We're begrudging your apparent desire to not let other people make that choice or pursue that technology.

[Robert Hall]

Fap gets the point. Arguing against new technologies is like the luddites who thought color tv would never go anywhere. Or cell phones would never take off...or 1000 other examples.

[Intrepidation]

...or the internet would never catch on.

[balthazar]

Yea... like, like... New Coke & BetaMax!

I'd LOVE to see a viable steam personal transport proposal.
I like the idea of electrics, they used to be one of the leading auto powerplants at the dawn of the industry (ancient concept). I don't oppose them, but I see dfelt's point that they are not quite ready for mass consumption. 10 years ago, I would've thought they would be far more accepted now than they've been, esp with the wicked fuel prices over the last 4 years.

[ocnblu]

If the car does not sell, how is it a success though. Car companies are in the business of meeting customer demand ("creating" demand is a false hope), how is forcing the issue going to make things better for your electrics? I will give the Spark Electric and 500E some time to prove themselves, but if they don't sell well enough to suit me, I am going to have to side with Moltie's Luddites. The Leaf has fallen.

[Drew Dowdell]

If the car does not sell, how is it a success though. Car companies are in the business of meeting customer demand ("creating" demand is a false hope), how is forcing the issue going to make things better for your electrics? I will give the Spark Electric and 500E some time to prove themselves, but if they don't sell well enough to suit me, I am going to have to side with Moltie's Luddites. The Leaf has fallen.

There will be a lot more failures for purely electric vehicles as the charging infrastructure is built which is why the Fisker, and Pruis Plug-In, and the Volt are offered as a stepping stone to the time where you can plug in your EV at any strip mall or Home Depot.

[ocnblu]

See I see this infrastructure project stalling.

[Drew Dowdell]

See I see this infrastructure project stalling.

Is this some data driven insight or simply just because you wish it so? Even if the sales of EVs isn't where manufacturers want them to be, EVs are still a growing segment. The only direction they can go is up. The ELR proves that GM isn't about to pull the plug on Voltec any time soon. Leaf just got reconfigured to decrease price. Toyota is selling their plug-in Pruis. I work for a company that, as a side business, does the installations on these things. We're hiring BTW....

You are literally the old coot on his porch shaking his cane at Henry Ford trying to invent the Model-T and yelling "Well where are you gonna fuel the dang thing?! I can buy oats for my horse ANYWHERE!!"

[Robert Hall]

A problem for the infrastructure is the red states.. I can't imagine backward right wingers investing in green technology infrastructure.

Edited February 25, 2013 by Cubical-aka-Moltar

[ocnblu]

You guys love to compare me to things. I just do not see the joy in EVs manifested among the general public. And I am not alone. Some people smarter than you agree with me.

[FAPTurbo]

I can drive across my country, in the dead of the cold Canadian winter, in a Tesla Model S if I wanted to. The infrastructure of fast-charging stations exists along the Trans-Canada highway. Our governments, local and provincial as well as our publicly owned power utility, are awarding grants to businesses that install fast charging stations.

The money and manpower is behind electrics. Now it's just a matter of whether the United States wants to be a leader or left behind.

[ocnblu]

"Left behind"? How so? If people don't want this crap... why spend a dollar of public money... taxpayer money, on a boondoggle? Makes no sense. We saw dfelt's photos of the charging stations going unused in Washington state. If private companies want to lose their asses on a pie-in-the-sky project such as this, let them. But I don't want to pay for it.

Edited February 25, 2013 by ocnblu

[FAPTurbo]

If foreign companies continue to pillage American technology through bankruptcies and controlling stakes, your next-next vehicle will be not be a Chevy, but a Chery.

Your governments already pay oil and gas companies massive subsidies. The reason corn syrup is so prolific is because of subsidies.

Electric vehicles and their associated subsidies are a drop in the bucket compared to both. And unlike the above two, they have the potential to do humanity good.

Get mad at something else.

[ocnblu]

Money is being spent in the wrong places, that much we agree on. I'm sure Canada is far worse off than we are down here.

[Drew Dowdell]

A problem for the infrastructure is the red states.. I can't imagine backward right wingers investing in green technology infrastructure.

The states don't have anything to do with it... or at least they don't have to. It's going to be private enterprise that gets in on it.

[Drew Dowdell]

Money is being spent in the wrong places, that much we agree on. I'm sure Canada is far worse off than we are down here.

more unfounded statements....

[ocnblu]

How do you like my spoon though?

Edited February 25, 2013 by ocnblu