PHOTO CAPTION: U.S. Energy Secretary Dr. Ernest Moniz

Fisker Winner Must Keep Tech, Production in USA, Says U.S. Energy Secretary

U.S. Energy Secretary Ernest Moniz explains terms of loan cover technology transfer limitations.

Published: 23-Jan-2014

The winner between two Chinese-backed bidders for assets of bankrupt electric-car maker Fisker Automotive Inc. will have to keep manufacturing and research in the U.S., Energy Secretary Ernest Moniz said.

Hybrid Tech Holdings LLC and Wanxiang America Corp. are competing in U.S. bankruptcy court for the remains of Fisker, an Energy Department loan recipient that stopped making its luxury plug-in hybrid cars in 2012.

ā€œIā€™m not going to pick a winner of the auction,ā€ Moniz said today at the Washington Auto Show after giving a speech.


Fisker Karma is assembled in Finland, but has been plagued early-on by quality issues.

Speaking to the Economic Club of Chicago during the Chicago Auto Show says that relaunch of Karma production 'soon.'

Fisker Karma has been plagued by early start-up problems and is looking for additional investors, at least one said to be in China.

From promising Boston Power to struggling Fisker Automotive, Chinese firms are acquiring control of US, as well as, European firms pioneering advanced automotive technologies.

If style were the only measure, the Fisker Karma should be a success.

Craig Cole recounts the travails of Fisker Automotive and its search for a new lease on life.


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