Thread: China Auto Parts Giant Wanxiang Wins Fisker Asset Auction

Holder of A123 Systems assets wins Fisker Automotive for $149 million. Although Fisker ceased manufacturing cars more than a year ago, it still owed the Energy Department millions in loans that it had defaulted on, and also held up to 18 design and technology patents related to hybrid and electric cars. Prior to the emergence of Wanxiang as the leading bidder, it appeared a company named Hybrid Tech Holdings LLC, backed by Hong Kong tycoon Richard Li would be the likely winner of the Fisker assets.