Fisker has potential buyers in line

VL Automotive and Chinese Investment Group Wanxiang are looking to buy troubled automotive manufacturer Fisker. Maker of the curvaceous Karma, Fisker has been cash-strapped for some time now due to what company insiders called an overly optimistic business plan that anticipated rapid sales growth. Tesla's success in the luxury/upscale electric vehicle industry hasn't helped Fisker's cause either.

Fisker failed to meet target sales of the Karma, leaving it unable to meet the conditions of the U.S Department of Energy's $529 Million loan from April 2010. The planned Atlantic was supposed to be launched last year in 2012 as well.

As Fisker continues to struggle, Bob Lutz's VL Automotive, maker of the awesome Destino (essentially a slightly modified Karma with a Corvette ZR-1 engine), recently bid to buy the company along with Wanxiang. The move would make sense for Lutz, as he needs Karma bodies to produce the Destino.

They have competition though, with investors in Hong Kong and Europe making offers to eliminate Fisker's debt and take control of the company.

Expect to hear a resolution about Fisker and its potential future buyer very soon. We'll keep you updated as more information comes in.

By Max Gilles