A Chinese auto parts maker and a group led by former General Motors executive Bob Lutz have reportedly made a $20 million offer to buy Fisker, the electric car company that has collapsed in recent months.
Reuters reported the bid, citing “people familiar with the matter.”
The Chinese parts supplier, Wanxiang, is the largest company of its kind in China. The group led by Lutz, VL Automotive, is a boutique car company. The deal would be done through a prepackaged bankruptcy.
A separate team of investors may buy out the U.S. Department of Energy’s outstanding loan to Fisker, which has not built a car since July, according to Reuters.
Fisker, which once built some of the coolest electric cars around, laid off three-quarters of its workforce in April.
China’s Geely Automotive, once considered Fisker’s best bet for a financial lifeline, dropped out of talks to buy the company in March, citing onerous conditions that come with paying back federal loan.
The company still owes the Department of Energy around $171 million in outstanding loans, according to Reuters.
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