Fisker Selling Assets to Li Group at $139 Million Loss to U.S.
This article is for subscribers only.
Fisker Automotive Inc., whose $103,000 plug-in hybrid car was driven by celebrities including Justin Bieber, filed for bankruptcy with plans to be acquired by a group said to include Richard Li, son of Hong Kong’s richest man.
Hybrid Technology LLC, a newly formed group, paid $25 million to win a U.S. Energy Department auction to take over Fisker’s defaulted taxpayer loan. The group includes Li, according to two U.S. government officials who were briefed on the deal and asked not to be named because the terms are private.