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Bob Lutz's VL Automotive and Chinese Partner May Buy Fisker

Motor Trend logo Motor Trend 5/22/2013 Christian Seabaugh

There may still be life left in Fisker yet. Bob Lutz's VL Automotive, makers of the V-8-powered version of the Fisker Karma , is reportedly looking into buying Fisker out of bankruptcy, with the help of a Chinese auto parts supplier.

Reuters reports that Lutz's VL Automotive and Chinese part supplier Wanxiang Group made a $20 million offer to buy Fisker. Lutz's proposal to buy the troubled automaker is one of two known offers; billionaire Richard Li and a team of international investors are also said to be in talks to buy the company. MotorTrend Image© Provided by MotorTrend MotorTrend Image

The VL Automotive Destino, which first debuted at this year's Detroit auto show, is essentially a really elaborate LS-swap. VL takes out the Chevrolet-based plug-in hybrid powertrain from the Karma and swaps in a Cadillac CTS-V-sourced 6.2-liter supercharged LSA V-8 and a six-speed manual or automatic transmission. The new powertrain should give the Destino 556 hp and 551 lb-ft of torque; a stock Karma makes 403 hp and 959 lb-ft of torque. Lutz, who recently said the Karma "is quite possibly the most beautiful four-door sedan ever," changes very little visually in the Fisker to VL conversion, with the front grille and exhaust pipes being the most obvious differences.

Lutz recently said that VL has received interest from "hundreds" of current Karma owners who don't want to wind up with un-repairable vehicles and VW Phaeton-like resale values should Fisker disappear. MotorTrend Image© Provided by MotorTrend MotorTrend Image

VL Automotive's partner in the offer to buy Fisker, Wanxiang, also has a vested interest in Fisker – it bought battery maker A123 (now named B456) back in January. A123 was Fisker's battery supplier.

Fisker recently cut over 75 percent of its staff and missed a scheduled payment on a Department of Energy Loan while founder Henrik Fisker resigned from the company. While the company has yet to officially file for bankruptcy, it has hired bankruptcy lawyers.

Source: Reuters

Destino-front-view© Provided by MotorTrend Destino-front-view

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