Search

China’s Geely won’t make final bid for Fisker

1 min to read
Mar 19, 2013 8:30 AM CET

China's Geely won't make final bid for Fisker

China’s Zhejiang Geely Holding Group will drop out of the bidding for a majority stake in troubled U.S. electric car maker Fisker Automotive, according to two sources familiar with the matter.

Fisker, the Anaheim, California-based plug-in hybrid maker, was waiting for final bids from two Chinese companies: Geely, the owner of Sweden’s Volvo, and state-owned Dongfeng Motor Group Co..

The sources said Dongfeng Auto submitted its final offer late last week but Geely will not make one because its top executives and advisors deemed the deal too risky. The sources declined to be identified because the matter has not been made public.

It was not immediately clear whether Fisker would automatically pick Dongfeng as the winner.

Initial bids from both companies earlier this year were valued at between $200 million and $300 million.

Via: Reuters.

Recommended for you
e59bbee78987-130
Geely’s Lynk & Co opens pre-sales for refreshed 07 EM-P and 08 EM-P PHEV models with LiDAR
New Zeekr X
New Zeekr X all-electric SUV with up to 489hp revealed
Geely Galaxy Starship 7 EV
Geely Galaxy Starship 7 EV key parameters exposed, boasts 215hp
Follow us for ev updates
China Car News
Fisker Automotive
Geely
Comments