Closer Look: Wanxiang's Deal for Fisker Puts It in a Race for Time

(Beijing) – On February 18, U.S. hybrid sports car maker Fisker Automotive Holdings Inc. won a court's approval to sell its assets to Wanxiang Group Corp., China's biggest auto parts supplier.

For the past six months, Wanxiang has been competing for Fisker with Hybrid Tech Holdings, led by Richard Li, the son of Hong Kong's richest man Li Kai-shing.