Chinese car companies are increasingly rational in overseas acquisitions

Recently, according to foreign media reports, the American electric car manufacturer Fisco Motors has hired a bankruptcy reorganization lawyer from the Kirkland & Ellis Law Firm to prepare for bankruptcy protection. At about the same time, another source said that Chinese auto companies Geely and Dongfeng have withdrawn from the acquisition of Fisker.

This time, Geely and Dongfeng can take the initiative to withdraw from the acquisition. The outside world thinks this is enough to prove that Chinese auto companies have been very rational in overseas acquisitions. Previously, the Swedish Saab Automobile was on the brink of bankruptcy and came to China for financial assistance. In order to acquire Saab, the youth car spent a lot of manpower, material resources and financial resources, but ultimately it did not succeed in the acquisition. Although Saab established two joint ventures, the outside world It is believed that the pay of young cars far exceeds returns.

According to reports, after Geely decided not to purchase Fischer in accordance with the original plan, only four days later, Dongfeng also announced that it had withdrawn from the acquisition negotiations, which caused Fisk into a huge dilemma. Both Chinese companies retreated due to the US Department of Energy’s request to use the condition of the former General Factory in Delaware, USA, which will be used as the production base of Fisker’s second mass production model, the Atlantic.

In fact, Geely and Dongfeng plan to acquire Fischer is nothing more than plans to produce electric cars in the country. If we use the former General Factory in Delaware, that means little. Moreover, Fisco is not a very prominent company.

According to the data, Fisker was founded in 2007 and is a small hybrid vehicle manufacturer. Its founder is Hendrik Fisk, a famous car designer. However, two weeks ago, Fisk had resigned due to "divergence with the company's management."

It is reported that Fisco CEO Tony Posawatz will visit China in the near future and try to find a new partner.

In fact, like Saab, Fisco just used Chinese car companies as a "cash cow." However, this is also the foundation of domestic auto companies. If you are interested in Fisker, the domestic car companies must be rational, do not, as the youth car and Saab negotiated, in order to save Saab, the youth car several times to pay Saab, but in the end these funds "have no return ".

Therefore, even if Fisco's chief executive comes to China, domestic companies must adhere to the principle that they can reach an agreement only when they meet their own conditions. Otherwise, they can completely withdraw from the transaction like Geely and Dongfeng.

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