Fisker Automotive has been sold, ladies and gentlemen. According to Automotive News, Wanxiang from China won the company after a few tense days of bidding between it and Hybrid Tech Holdings from Hong Kong. The winning bid came in at $149.2 million, which, rather interestingly, is almost six times the amount Fisker itself sought to recover from bankruptcy.
Money isn't the only problem Fisker Automotive has with making more Karma plug-in hybrids (see: battery supply), but the California startup may soon have the cash to help resume production of its $100,000 plug-in luxury sedan. Zhejiang Geely Holding Group has the edge in taking a majority stake in the troubled automaker, according to two confidential insider sources close to Fisker.