Karma News: Fisker's New Owner Vows To Spend As Much As It Takes To Make It Success

[William Maley]

Lu Guanqiu is the chairman and founder of China's Wanxiang Group Corp., which happens to be the new owner of Fisker Automotive. In a interview with Bloomberg, Lu says the company will be making significant investments into the troubled automaker.

"“I’ll put every cent that Wanxiang earns into making electric vehicles. I’ll burn as much cash as it takes to succeed, or until Wanxiang goes bust.”

That's saying something in the least. But the question is when will we see Fisker vehicles coming off the production line?

"The road is still very long. We want to concentrate for now on manufacturing in the US. If I don't succeed, my son will continue with it. If he doesn't make it, my grandson will," said Lu.

The plan at the moment is for production of the Karma to come back online, followed by the introduction of new models.

Source: Bloomberg

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[G. David Felt]

Money Pit! Says it all

[ocnblu]

Poor sucker

[A Horse With No Name]

His pockets are not that deep...

[G. David Felt]

His pockets are not that deep...

True but then the Communist party will dump money into it to try and buy their way to justification for their system and world domination.

The whole reason China has succeeded is due to their hybrid Communist system where russian keeps looking to the past for their glory and not changing with the times. Russia could have easily had someone there buy this up and invest to make a go of it, but they do not know how to really make capitalist companies grow and I hope this guy has the business chops to make it grow and succeed as I only see a money pit bleeding red.

[A Horse With No Name]

They can only buy so much. the real innovation in this world is driven by capitalistic free market systems, all communist/closed systems can do is copy and plagiarize the free market stuff.

[§carlet §wordfish]

I hope they can do it. The cars are just too cool. I very much want to see them on the road someday, maybe even own one.

What specifically needs to be done to restart production? (No wise-ass answers like "a miracle" please.)

[A Horse With No Name]

Not sure what needs to be done.

[G. David Felt]

I hope they can do it. The cars are just too cool. I very much want to see them on the road someday, maybe even own one.

What specifically needs to be done to restart production? (No wise-ass answers like "a miracle" please.)

To Quote the New Owner, Plenty of Money. They will need to get the assembly line back up to spec, line up the suppliers, get workers hired and trained and the list goes on. Be interesting to see if they can get a car out of the plant in 12 months.

[A Horse With No Name]

I hope they can succeed, it was a fantastic car when it was here.

[SoCalCTS]

Who needs a Fisker when you can buy a Tesla now?

[A Horse With No Name]

Competition will not hurt either of them...

[Guest Mr.Chips]

Is Fisker the new SAAB?

[A Horse With No Name]

Possibly!

[G. David Felt]

Still destined to be a history note at best.