Momentum appears to be building behind Wanxiang’s last minute efforts to purchase bankrupt hybrid carmaker Fisker.
The company has filed documents with a court in Delaware saying that it will produce second generation Fisker cars at the Delaware Boxwood if it is allowed to purchase the company.
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Reports also suggest that its is prepared to up its bid by US$10m.
A court filing reads: “Wanxiang America intends to pursue the design and development of the Gen II line of vehicles and, once such vehicles are ready for mass production in volumes that necessitate a separate manufacturing facility, intends to manufacture such vehicles at the Debtors’ existing facility at 801 Boxwood Road in Wilmington, Delaware.”
Creditors are reportedly lining up in support of Wanxiang’s last minute effort to re-open the auction for Fisker. However, a deal is in train to sell Fisker to Hybrid Technologies, a firm owned by Chinese businessman Richard Li.
Local politicians have also spoken out in support of allowing Wangxiang’s bid to be considered.
A court hearing is due later today to decide whether the proposed sale to Hybrid should proceed or the auction process be reopened.
