Fisker looking for funding and strategic partners in China and other places in Asia

Article by Christian A., on January 17, 2013

Several Fisker Automotive Inc. officials are looking for funding and strategic partners in China and other places in Asia, according to sources. These partners are regarded to be vital to the success of the company. Its top executives are also expected to attend the Detroit auto show to meet potential customers and keep track of its rivals.

However, Fisker is on a more urgent task of attracting investors, after having experienced a difficult year with the poor launch of the flagship Karma plug-in hybrid, the bankruptcy of its battery supplier, and the criticism received during an election season to this U.S. government-backed company.

Fisker hasn’t produced a car in six months. Fisker is focusing on China because of Beijing's support of local Chinese automakers' efforts to get "green car" technology from overseas.

The central government in China has been driving the market for electric cars and plug-in hybrids in China to succeed before the decade ends. Fisker has entered talks with China Grand Automotive Services Co, a large dealership group that already has a distribution deal for Fisker cars in China.

It has also talked with Wanxiang Group, a Hangzhou-based major producer of automotive components that was the winner of an auction last month for bankrupt U.S. lithium-ion battery maker A123 Systems, the main primary battery supplier of Fisker.

Sources also said that Fisker may soon begin talks with several state-owned and closely held indigenous Chinese automakers. Fisker spokesman Roger Ormisher won’t confirm which companies it has talked with. He would only say that “exciting developments” are expected within the coming months.

Topics: fisker, china

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