Chinese companies slowly collecting discounted U S electric …

14 Июн 2014 | Author: | Комментарии к записи Chinese companies slowly collecting discounted U S electric … отключены
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Electric car startup Automotive is reportedly weighing and acquisition offers from auto tech companies. reports that there s a million offer for 85 percent of the from Chinese state-owned car Dongfeng Motor Corp, and reports that China s Geely Holding Group owns Volvo) has another for a majority stake with a between $200 million and million.

If Fisker is able to close on of these deals, it could its business to China and gain the to start manufacturing its second car the as well as start paying its loan to the Department of Energy. has been looking for suitors and acquirers for months, as it wrapped up a with an incredible amount of .

But $350 million for 85 percent is a major discount on the original of Fisker. The company has raised a dollars in funding, and at one point in 2011 had raised money at a valuation of $2.2 billion. But in the company struggled heavily and I had that it was looking to raise last year at a significantly valuation.


Clearly, when discussions are for stake deals for between million and $300 million, s been massive discounting.

Fisker isn t the only energy company that s looking to for a discount to Chinese conglomerates. ion battery maker which batteries for Fisker s electric car bankrupt and its assets are being off to Chinese auto tech Wanxiang for $256.6 million. Systems held the largest IPO in raising some $371 and went public at $20 per share.

A123 also raised than $350 million private investors when it was a startup.

Wanxiang has also in struggling electric car company Electric Vehicles. Battery Boston Power also to Chinese investors to take its car battery business to the next as did Protean Electric. Electric car Coda Automotive which is struggling has a joint venture China battery maker and a deal with auto Great Wall Motors

Chinese companies and the Chinese are very interested in amassing technology for electric cars. is projected to be the largest electric car and market in the world, and is already the s largest auto market.

It s not just electric car assets Chinese companies want. invested $420 million GreatPoint Energy. a company in Cambridge, Mass. that coal into cleaner-burning gas. And Chinese power Hanergy acquired the assets of for $30 million (Miasole had raised of millions of dollars from investors).

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