Another government promoted loser

Fisker may get $350 million bid from China's Dongfeng

Fisker Automotive may receive a $350 million acquisition bid from China-based automaker Dongfeng Motor Corp., Bloomberg says, citing people familiar with the process.

Dongfeng would buy about 85 percent of the California-based maker of the $100,000 Karma extended-range plug-in, the wire service reports. Fisker spokesman Roger Ormisher tells Bloomberg that Fisker's received proposals from "multiple parties in different continents."

Either way, a new majority owner would help Fisker pay back its loans to the US Energy Department. Fisker drew down a $529 million line by about $200 million before the US government froze the rest because Fisker didn't meet certain production targets.

Fisker hasn't produced vehicles for about seven months. The company couldn't get new batteries because supplier A123 Systems filed for bankruptcy and is going through its own bidding process. Additionally, Fisker's been renegotiating with Finland-based supplier Valmet, Ormisher told AutoblogGreen last month.