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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.

SEMA buys Performance Racing Industry

The Specialty Equipment Marketing Association (SEMA) on Tuesday finalized plans to purchase Performance Racing Industry, and the transaction will close later this month. John Kilroy, who has experience as editor and associate publisher of PRI Magazine and as vice president of the organization, will continue to lead it. For now, according to representatives from SEMA, it's business as usual.

ZAP electric car

California-based ZAP has completed the initial concept phase for a new electric vehicle claimed to hit a top speed in excess of 100 mph with a range of 100 miles per charge.  "With ZAP's experience over the past 12 years and the groundwork we have already laid, we know that electricity is the future of the auto industry," said ZAP CEO Steve Schneider.  "At the same time, we believe we have a design that will serve a niche no other manufacturer in the auto industry is seeking to fill." More details of the car will become available at the end of the month.