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AddNew Fisker owner ready to go broke building EVs, challenging Tesla

Now this is the kind of fighting spirit we like to see. Lu Guanqiu is a Chinese billionaire who has visited the White House alongside Chinese president Hu Jintao in 2011. He's worth an estimated $3.1 billion. And he wants to take on Tesla Motors and other EV makers with his newly purchased company, Fisker Automotive.

AddFisker creditors want a repayment do-over

In February, the Chinese company Wanxiang won control of Fisker Automotive at a bankruptcy auction for a final bid of $149.2 million. The sale meant that Wanxiang would now have to deal with all of the creditors claiming that Fisker owed them money. Those individuals and groups had a combined $1 billion in claims, and they're not happy with how the bankruptcy is shaking out. In April, a settlement was announced that would see those unsecured creditors get back pennies on the dollar.

AddFisker will borrow $5M from Wanxiang as interim solution

It may seem like a drop in the bucket compared to the approximately $1 billion in liabilities bankrupt automaker Fisker Automotive has against it, but every bit helps. In this case, it's a smidgeon less than $5 billion. That's how much the maker of the Karma extended-range plug-in is getting approved to borrow from its presumed future owner, Wanxiang Group. It's a start.

AddThe New Fisker website goes live, says Karma warranties limited to $2,000

If there's any question where Wanxiang hopes to take the remains of Fisker Automotive, just take a look at The New Fisker, a fresh official website for the bankrupt automaker. While the text available there hedges about just when and how the company will restart production, it is clear from the pictures that the company is ready to make the Atlantic PHEV concept a reality. The site even says, "Hello Future. Meet the Atlantic."

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