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Hybrid Technologies LLC increases Fisker bid to $55 million

Will more money equal more Karma? In the continuing fight over the assets of extended-range plug-in vehicle maker Fisker Automotive, a Hong Kong-based investor is ready to up the stakes. Hybrid Tech Holdings has announced it will increase its bid for the maker of the Karma to $55 million. A bankruptcy court judge recently ruled that Hybrid Tech couldn't use any more than $25 million of its Fisker debt for an on-credit bid for Fisker. Hybrid Tech bought Fisker's $193 million line of credit from the US Department of Energy for $25 million. "When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum," the company said in a statement. "Hybrid is working to achieve a rapid relaunch of Fisker." AutoblogGreen asked Hybrid spokeswoman Megan Grant for more details, but she said, "The statement distributed ... is the only information I am able to provide at this time." You can read the full statement below. At this point, Hybrid Tech's offer would trump Wanxiang Group's bid of $25.8 million (plus assumed debt) that was issued in late December and then boosted to $35.7 million earlier this month. Fisker favors the Hybrid Tech bid because it believes Wanxiang, which acquired most of the assets of lithium-ion battery maker A123 Systems in 2012, helped speed up Fisker's shut-down by stopping battery deliveries. Fisker filed for bankruptcy in late 2012. The auction for the remains will be held in February. Statement by Hybrid LLC Today, Hybrid Tech Holdings, LLC ("Hybrid"), a Delaware limited liability company, announced that it has modified the terms of its bid for Fisker Automotive Holdings, Inc. ("Fisker"), to reflect a purchase price of US$55 million. Hybrid intends to utilize Fisker's existing plant in Delaware to meet consumer demand and address market conditions. "Hybrid's confidence in Fisker's future is strong and unwavering. The Hybrid group has been an investor in Fisker for many years. When other shareholders ceased support, Hybrid continued to provide the financing and working capital necessary to maintain momentum, as well as taking on the US$25 million risk of purchasing the Department of Energy loan. We did so for a simple reason; we believe deeply in Fisker's technology and we stand by the talent in the company who can bring the promise of this technology to life," said Hybrid spokeswoman Megan Grant.

Ford Mustang GTD, Acura ZDX and Pebble Beach recap | Autoblog Podcast #795

In this episode of the Autoblog Podcast, Editor-in-Chief Greg Migliore is joined by News Editor Joel Stocksdale. In the news, there were a lot of recent unveilings, including the Ford Mustang GTD, Pininfarina B95, Lamborghini Lanzador, Acura ZDX and Fisker Alaska. We recap Pebble Beach and the Woodward Dream Cruise. Joel is fresh off a track drive of the Audi R8 (at Laguna Seca!), and we give ann update on our long-term Toyota Sienna minivan. Finally, we take to Reddit to help pick a new car with a V8 in this week's "Spend My Money" segment. Send us your questions for the Mailbag and Spend My Money at: Podcast@Autoblog.com. Autoblog Podcast #795 Get The Podcast Apple Podcasts – Subscribe to the Autoblog Podcast in iTunes Spotify – Subscribe to the Autoblog Podcast on Spotify RSS – Add the Autoblog Podcast feed to your RSS aggregator MP3 – Download the MP3 directly Rundown 2025 Ford Mustang GTD revealed as a race car for the road — it costs $300,000 Pininfarina B95 revealed, 0-60 in 2 seconds, and at $4.8 million is the priciest EV ever Lamborghini Lanzador concept is a megawatt wedge previewing the first Lamborghini EV 2024 Acura ZDX revealed with up to 500 horsepower Fisker Alaska electric pickup specs, price and production plans revealed Cars we're driving 2023 Audi R8 Quattro Long-term 2023 Toyota Sienna Spend My Money Feedback Email – Podcast@Autoblog.com Review the show on Apple Podcasts Autoblog is now live on your smart speakers and voice assistants with the audio Autoblog Daily Digest. Say “Hey Google, play the news from Autoblog” or "Alexa, open Autoblog" to get your favorite car website in audio form every day. A narrator will take you through the biggest stories or break down one of our comprehensive test drives. Related video: Podcasts Acura Audi Fisker Ford Lamborghini Toyota Concept Cars Electric Future Vehicles Luxury Performance

More signs of life at New Fisker; Karma owners offered repair deal

It's not likely that anyone who was able to afford a $100,000-plus Fisker Karma extended-range plug-in (yes, we're talking about you, Leonardo DiCaprio and Cee Lo Green) needs a financial lifeline today, but they're going to get one nevertheless. With the luxury model having been out of production for more than two years after the company behind it ran out of cash, Fisker's new owners are offering a Consumer Support Program (CSP) for those looking to get the plug-ins repaired, and we imagine there are a few of them. It's at least a stopgap measure until the next iteration (which will be a lot like the current Karma) comes out. New owner Wanxiang is offering anywhere between $2,000 and $5,000 worth of parts and labor for those looking to give their Karma models some TLC. That offer stays in place until the end of next January. Fewer than 2,500 of the Karmas were built, with the last one rolling off the line in late 2012. Last month, Wanxiang started teasing details on TheNewFisker.com about the company's first vehicle, which will be called the Elux Karma and is said to have a price tag of about $135,000. Wanxiang acquired Fisker out of bankruptcy early last year for $149.2 million. Related Video: