Chinese Geely will not take over Fisker
- Geely will not bid for Fisker Automotive. The Chinese owner of Volvo Car had been approached mid-March to acquire the strapped for cash Californian carmaker. The Chinese group found that the conditions of the U.S. Department of Energy (which has granted a loan of $ 529 million) relating to the maintenance of investments, capacity and employment of Fiskerplant in Wilmington were too risky.
- Fisker has not produced car since July 2012 and is looking for an investor to help it building its second model, the Atlantic. Geelysaid it was interested in Fisker and its Delaware plant (formerly owned by General Motors) that could produce Volvo for the U.S. market, in addition to Fisker hybrid engine vehicles.
- Geely could have positioned Fiskeras the premium brand of the group and strengthened Volvo on the US market against Premium brands Lexus, Acura, Infiniti, BMW, Mercedes and Audi.
- The Chinese Dongfeng, competitor of Geely, is still vying to acquire Fiskerand has submitted its final offer last weekend.
