Chinese firm and former GM chief Bob Lutz circling around Fisker’s fresh corpse

By Nick Jaynes Published May 22, 2013

Fisker Atlantic — Image used with permission by copyright holder

Former General Motors executive Bob Lutz and his upstart automotive firm VL Automotive have been snapping up remaining Fisker Karmas left and right and converting them into VL Destinos.

However, simply picking up the leftovers isn’t enough for Lutz as VL Automotive and Chinese auto parts maker Wanxiang are interested in buying the bankrupt Fisker brand, according to Reuters.

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Wanxiang recently purchased also bankrupt lithium-ion battery maker A123 Systems, which has now cleverly changed its name to B456 Systems, which previously supplied batteries for the ill-fated Karma.

Before the deal can be done, however, VL and Wanxiang have to face the Department of Energy, which has a significant stake in the now defunct Fisker. The DOE had promised $529-million to Fisker but froze funds at $192-million after Fisker missed its pre-set production targets.

While there’s still much that needs to happen before the deal can be done, we’re intrigued by the possibilities.

Could a joint Wanxiang and VL Automotive investment in the Fisker brand spell the rebirth of the plug-in hybrid luxury sedan as well as the continuation of the $180,000 VL Destino? Let’s hope so.

More news is likely to follow on the fate of Fisker. So as the story unravels, we’ll be sure to keep you updated.

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Former Digital Trends Contributor

Nick Jaynes is the Automotive Editor for Digital Trends. He developed a passion for writing about cars working his way…

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