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AddWanxiang wins bid for Fisker at $149.2 million

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.

AddWord of China's Geely leading bids for Fisker draws criticism from senator

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.

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