2012 Fisker KarmaEnlarge Photo
Yesterday we reported that two companies, VL Automotive and China's Wanxiang Group, had put in a bid for struggling automaker Fisker Automotive.
It's now become clear just how little the ailing plug-in carmaker is worth to investors and buyers, with Reuters revealing the VL and Wanxiang bid totalled just $20 million.
Sources close to the company confirmed that the $20 million bid had been made--just a fraction of the company's estimated worth just over one year ago.
During the launch of Fisker's first product, the luxury Karma sedan, it was valued at around $2 billion.
It's a sign of how far Fisker has fallen, following a litany of issues in the past twelve months--from poor reviews and quality issues, to stalled production, fires, the destruction of over 300 Karmas at a superstorm Sandy-ravaged port, and its insurance company's subsequent refusal to pay out.
The $20 million joint bid comes from two companies already holding links to Fisker.
The first, Bob Lutz-backed VL Automotive, revealed plans earlier this year for the 'Destino'--essentially a Karma with the plug-in drivetrain ditched in favor of a GM-sourced supercharged V-8.
The other, Wanxiang Group, bought out Fisker's battery supplier A123 Systems when it went bankrupt last year.
Anonymous sources also report that another team of investors is also still interested in the company.
What would you like to see happen with Fisker? Leave your thoughts in the comments section below.