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Wanxiang makes bid for US car company

By He Wei in Shanghai | China Daily | Updated: 2014-01-03 07:42

China's largest auto parts manufacturer, Wanxiang Group Corp, has made a last-minute bid for a United States-based alternative-fuel car producer.

The move follows the Chinese company's earlier acquisition of US battery producer A123 Systems Inc, a regular supplier of Fisker Automotive Inc, for which Wanxiang America Corp is considering a bid in a proposed auction.

Fisker creditors asked the US Bankruptcy Court in Wilmington, Delaware, to scrap Fisker's agreed sale with a company affiliated with Hong Kong tycoon Richard Li and instead hold an open auction at which Wanxiang's US arm plans to bid, according to Reuters.

Wanxiang makes bid for US car company

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