Two bidders vie for Fisker Automotive’s 18 patents

Article by Anita Panait, on February 8, 2014

February 12, 2014 would be a memorable date for two Chinese-backed firms who are aiming to acquire the assets of collapsed carmaker Fisker Automotive Holdings Inc. One of them would go home getting nothing of the carmaker while the other would rejoice after winning the auction set on that date. The companies -- Wanxiang Group and Hybrid Tech Holdings LLC – are seen to be aiming to acquire Fisker’s 18 patents and a potential toehold in the United States and China.

However, the winner has to face the fact that Fisker hasn't built a vehicle since 2012 and its $103,000 Karma plug-in hybrid sports sedan was dubbed as a "basket case" by Consumer Reports. Fisker was also labeled a "loser" by Republican Mitt Romney during 2012 US presidential debates.

Likewise, it most visible asset is a neglected former GM site that Fisker never used. With two companies seeking to acquire Fisker’s asset, a bankruptcy judge has to set a Feb. 12 auction for them. "It's not about the manufacturing," Steven Szakaly, chief economist for the National Automobile Dealers Association, told Bloomberg.

"It's about the intellectual property." Fisker boasts of 18 patents include grille designs, a fender vent and electric-vehicle drivetrain technology, according to the database of the US Patent and Trademark Office.  Fisker also boasts of at least 18 more patent applications pending, including in aluminum subframing and solar-car technologies, according to Charles Shifley, a patent attorney at Banner & Witcoff Ltd.

Blair Jacobs, a patent lawyer with McDermott Will & Emery, remarked that Fisker’s patents have several possible applications for potential buyers who are keen to enter the growing alternative-fuels market. "To have a jump start with a portfolio that took three to five years to develop is really substantial," Jacobs told Bloomberg. For a Chinese company, Fisker’s remaining assets do hold particular promise as they would enable them revive the Fisker brand China and have an entry point in the US.

If you liked the article, share on:

Topics: fisker

Comments

Recommended

The 2018 Jaguar XEL with its stretched-out wheelbase and longer doors is the newest addition to the growing list of premium sedans in China---joining the ranks of Mercedes-Benz C-Class L,...
by - November 21, 2017
Honda this week announced that its all-new 2018 Clarity Plug-in Hybrid will arrive at US dealerships with a starting price of $33,400 beginning on the first of December. Because the...
by - November 21, 2017
Lamborghini had been expected to refresh its entry-level model – the Lamborghini Huracan – in late 2018 or early 2019. But here is some good news for fans of the...
by - November 20, 2017
The Chevrolet Corvette will be turning 65 years old in 2018, and as part of the celebrations, the brand is introducing a special edition C7 – the Chevrolet Corvette Carbon...
by - November 19, 2017
Tesla revealed that with its new Semi, truck drivers can expect better experience especially with heightened safety and the lower cost of transporting cargo. Indeed, the cabin of the new...
by - November 19, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries