- Advertisement -

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

Reading Time: < 1 minutes

More News Like This Even Faster?

Priority News Access

Car Database

Calendar of Upcoming Events

Chinese EV Sales Data

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.

Exclusive Content & Car Database

Try Our New Product. Priority Access, Chinese EV Sales & Car Database, or List Of Upcoming Events. Great For Journalists, Investors, Consultants or anyone who likes Chinese EVs.

News instantly?

Get notified about every news in your phone.

- Advertisement -

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.

- Advertisement -