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Chinese giant component Wanxiang want to buy Fisker and Tesla alliance to

Discussion in 'News' started by castigador55, Jan 25, 2014.

  1. castigador55

    castigador55 Member

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    Gigante chino de componentes Wanxiang quiere comprar Fisker y aliarse a Tesla. Vizcaya - El Correo

    google translator:

    Shanghai (China ) , Jan 24 ( Reuters) - . The Wanxiang , the largest producer of automotive components in China , which in 2013 bought American lithium batteries for electric vehicles A123 Systems, the company wants to acquire group of hybrid cars Fisker and allying with his rival Tesla also in USA .
    This was stated by its president and founder, Lu Guanqiu magnate , during an interview at his company 's headquarters in Hangzhou, 170 kilometers from Shanghai, the official Shanghai Daily, mouthpiece of the government in the economic capital of China.
    A bid for Fisker, by which last year had already shown interest Chinese manufacturer Geely (private) and Dongfeng (State ) , and will be held on February 12 in California, the son of Richard Li will also add Hong Kong tycoon Li Ka -shing , Asia 's richest man.
    Fisker had to stop production of its Karma electric model in 2012 and declared bankruptcy last November.
    In December, shortly before the purchase agreement Fisker, intervened with state money , had reached with Hybrid Tech Holdings, a subsidiary controlled by Li materialize, Wanxiang turned to the U.S. courts to claim that the purchase is made by manufacturer a public auction .
    Lu , 69, now says his offer is more attractive than its rival for Fisker , which already supplies batteries by A123 .
    " We have the support of creditors Fisker and local government support and a 20-year record of responsible investment in the U.S. ," said Lu , " these are our advantages , this auction is not decided only by who pays more " .
    However , Lu said that abandon the bid if the price gets too high Fisker , since both seeks alliances with other manufacturers of electric vehicles , including Tesla.
    Meanwhile , Hybrid Tech has already revealed that its starting price will be $ 55 million (40 million euros).
    "Of course we want to bring Fisker, but we'll bet rationally ," Lu said , " whatever the outcome, nothing can stop us to manufacture electric cars ."
    Lu also said that "we have been in frequent contact with Tesla, Tesla supply , and recently asked how our U.S. subsidiary deepen our relationship with Tesla ."
    However, the subsidiary Wanxiang America , led by the son of Lu , told the newspaper that now has no relation to Tesla.
    "I want to use the resources that are needed, we can join forces to unite and partner with any partner that we can find ," he said Lu , " cooperate with whoever is the best , as long as we also choose them to us, of course , not could be an unrequited love . "
    Purchase confirmed, would add to the recent Chinese investment in international manufacturers such as Geely made ​​with the Swedish brand Volvo in 2010, when Ford bought the multinational, or the imminent entry of Dongfeng Peugeot Citroen PSA , which has already received approval from the French group .
    Meanwhile , Tesla announced just yesterday that prices of its tourism Model S (exported ) will be similar to the U.S. , with additional costs for customs, taxes and transportation necessary , which will put you in strong competitive advantage , with a much lower price than the other similar vehicles in its category in the Asian giant. EFE
     
  2. AnOutsider

    AnOutsider S532 # XS27

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    How would they join forces? Unless they mean become a client and buy power trains
     
  3. AMPd

    AMPd Active Member

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    Tesla would be the go to shop for battery packs and power trains, a deal similar to mercedes and toyota perhaps?

    Edit: I hope they do buy the power trains and batteries from tesla, if you have to go buy, buy from the best!
     
  4. RobStark

    RobStark Active Member

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    Journalist keep asking the CEO of Wanxiang if he would collaborate with Tesla and he repeatedly said he would consider any future collaboration.

    Buying powertrains from Tesla would make zero sense for Wanxiang.

    According to Chinese Law Tesla would need a Chinese partner to build cars in China and bypass the ~23% tariff on imported cars.

    I think Wanxiang would like to be that partner.
     
  5. AudubonB

    AudubonB Mild-mannered Moderator Lord Vetinari*

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    Rob, do you know what percentages Chinese statute compels a foreign-local partnership to comprise?
     
  6. RobStark

    RobStark Active Member

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    It requires the local Chinese company to own at least 51% of the joint venture.
     

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