NEWS

Fisker's Savior Could Come From China

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USA Today reports that the Wuhan, China-based company has made a $350 million offer that would give it a majority stake of the company. Fisker is seeking investors to keep it afloat after a year full of production delays, recalls and financial setbacks, including the loss of Department of Energy loans, a CEO shakeup and employee layoffs.

The company’s only vehicle, the Karma sedan, retails for $103,000, including a $1,000 destination charge, and is no longer in production since battery supplier A123 Systems Inc. filed for bankruptcy last year. In light of its troubles, Fisker has also shelved plans to produce the smaller and more affordable Atlantic extended-range electric sedan.

Related
Report: Fisker weighing bids, including Dongfeng (USA Today)
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News Editor Jennifer Geiger joined the automotive industry in 2003, much to the delight of her Corvette-obsessed dad. Jennifer is an expert reviewer, certified car-seat technician and mom of three. She wears a lot of hats — many of them while driving a minivan. Email Jennifer Geiger

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