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Fisker Automotive Hunts for Survival Money in China

Fisker Automotive is facing a cash crunch. The company is turning to China to find the money it needs to survive. But so far it isn’t having much luck, according to my sources.

The maker of the Karma luxury plug-in hybrid doesn’t have enough cash on hand to finish development of its next vehicle, the Atlantic. According to Fisker spokesman Roger Ormisher the company is seeking a “strategic partnership or alliance to enable us to bring the Fisker Atlantic swiftly to market.” Translation: Fisker needs some money. Now!

One Chinese company that Fisker is talking to, as has been reported, is Wanxiang. Wanxiang is one of China’s largest suppliers and has a significant presence here in the U.S. More relevant to Fisker’s needs is the fact that Wanxiang just received approval from the U.S. government to purchase most of battery maker A123, which supplies Fisker’s batteries.


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