CHINA: Geely in pole position for Fisker stake
Geely could secure a majority stake in electric car maker Fisker Automotive, sources have told China Daily.
Fisker is looking for a strategic investor or partner and is currently considering bids from two Chinese carmakers: Geely, which already owns Volvo, and state-owned Dongfeng Motor.
Sources told the newspaper that both offers, which Fisker received in the last three weeks, were worth between US$200m and $300m. A deal would give the suitors a majority stake in the US company, they said.
Geely acquired Volvo from Ford in 2010 and, according to the report, the Chinese have already sent a team of engineers to Fisker’s base in Anaheim, California.
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