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  1. Business - China Business - CARS

    China's Wanxiang wins auction for troubled US hybrid-car maker Fisker

    Posted Feb 16th 2014, 05:10am by BLOOM

    ... times what the US company was seeking when it filed for bankruptcy. In winning the four-day auction, which went through 19 rounds of bidding, Wanxiang topped Hybrid Tech, a company led ... in assumed liabilities, Fisker said in a statement. US bankruptcy judge Kevin Gross was scheduled to consider approving the sale on Tuesday. When it filed for bankruptcy in November, Fisker asked ...

    http://www.scmp.com/business/china-business/article/1428705/chinas-wanxiang-wins-auction-troubled-us-hybrid-car-maker
  2. Business - China Business - CARS

    Wanxiang says it will 'bid rationally' in Fisker electric car auction

    Posted Jan 24th 2014, 02:19am by Reuters

    ... for Fisker, a failed rival to Tesla in electric cars. California-based Fisker, backed by US taxpayer money, stopped making its sleek, Karma sports car in 2012 and filed for bankruptcy protection last November. Last month, just days before Fisker was to be sold to Hybrid Tech Holdings, an affiliate of Li's, Wanxiang made a surprise bid, prompting a US bankruptcy judge to call for an open ...

    http://www.scmp.com/business/china-business/article/1412039/wanxiang-says-it-will-bid-rationally-fisker-electric-car
  3. Business - Economy - CARS

    US carmakers enjoy best year of sales since 2007

    Posted Jan 06th 2014, 12:28am by BLOOM

    ... government-backed bankruptcies and Ford, using money borrowed from mortgaging its Blue Oval, struggled to restructure itself amid the longest recession since the Great Depression. Getting their financial ...

    http://www.scmp.com/business/economy/article/1398689/us-carmakers-enjoy-best-year-sales-2007
  4. Business - Companies - CARS

    Fiat reaches US$4.35 billion deal to fully take over Chrysler

    Posted Jan 02nd 2014, 11:50am by Reuters

    ... both carmakers since Chrysler’s 2009 US government-funded bankruptcy restructuring, aims to merge Fiat and Chrysler into the world’s seventh-largest carmaking group. But he has been at odds over the US carmaker’s worth with the trust, which was pushing for a payout of more than US$5 billion. In September, the trust exercised an option enshrined in bankruptcy documents to force ...

    http://www.scmp.com/business/companies/article/1395743/fiat-reaches-us435-billion-deal-fully-take-over-chrysler
  5. Business - Companies - CARS

    GM released from US taxpayers' hands

    Posted Dec 11th 2013, 05:05am by BLOOM

    ... government stepped in with emergency funding in 2008. Bailouts from the George W. Bush and Barack Obama administrations helped GM avoid liquidation and reorganise in a 2009 bankruptcy that has given ...

    http://www.scmp.com/business/companies/article/1377869/gm-released-us-taxpayers-hands
  6. Business - China Business - CARS

    Renault seals US$1.3b deal with Dongfeng

    Posted Dec 17th 2013, 03:55am by Reuters

    ... road and waterway networks it is better-positioned than other cities to become China's Detroit- minus the bankruptcy, said Peng Zhimin, a regional economics researcher at the Hubei office ...

    http://www.scmp.com/business/companies/article/1382961/renault-seals-us13b-deal-dongfeng
  7. Business - Companies - CARS

    Ford boss Mulally doesn't regret 'conservative' approach in China

    Posted Oct 28th 2013, 04:33am by Anita Lam

    ... avoid bankruptcy. ...

    http://www.scmp.com/business/companies/article/1341304/ford-boss-mulally-doesnt-regret-conservative-approach-china
  8. Business - Companies - CARS

    Saab's hometown prays for electric vehicle revival

    Posted Jan 26th 2013, 12:00am by Bloomberg

    ... a rough time since assembly lines were halted almost two years ago. About 3,400 people- 7 per cent of the city's population- worked for Saab there before its bankruptcy. The parking lot ... Vehicle Sweden, or Nevs, which bought Saab out of bankruptcy last August. That target would come close to the brand's 2006 peak of 133,000 cars. "The likelihood of this project turning ...

    http://www.scmp.com/business/companies/article/1136290/saabs-hometown-prays-electric-vehicle-revival
  9. Business - Companies - CARS

    Ford board to set Mulally succession plan in motion

    Posted Oct 13th 2012, 12:00am by Bloomberg

    ... the timetable and details of Ford's plan to replace Mulally, who has won acclaim for saving the company without a federal bailout or bankruptcy, said Adam Jonas, an analyst with Morgan Stanley ... Ford avoided bankruptcy because it borrowed US$23.4 billion (HK$181 billion) in late 2006, less than four months after Mulally arrived from Boeing. The company put up all major assets, ...

    http://www.scmp.com/business/companies/article/1059880/ford-board-set-mulally-succession-plan-motion

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