Report: Fisker Automotive Sold To Hong Kong Billionaire Richard Li 35
cartechboy writes "It looks like an investor group led by Hong Kong tycoon (and early Fisker investor) Richard Li is the likely winner of a government loan owed by Fisker Automotive, the dormant maker of plug-in hybrid sports cars. Buying the loan would allow Li to try and restructure the company even as it's still at risk for bankruptcy. The originally company won a $529 million government loan in 2009, took venture capital investment, and created a lot of buzz around its flagship car, the $100,000 Karma plug-in hybrid. But the company had delays launching the car, struggled financially and has not built any cars since July of 2012. Is Li the new savior?"
Re:If he can get reliable suppliers, then maybe. (Score:3, Insightful)
One of the big problems Karma had was getting reliable suppliers for their parts, they didn't have the presence to get what they wanted
Another big problem: People shelling out $100K for a car want something fast and obscene that won't burst into flames upon getting a bit damp. [carbuzz.com]
At least Ferrari can pull off 2 out of 3.
Asian Buyers Are Stepping up to luxury (Score:5, Insightful)
Look where the billionaires are piling up and those who work for them trying to emulate their status.
Look where Burberry mushroomed their sales.
Li has it right.