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Bidding For Bankrupt Electric Carmaker Fisker Is Heating Up

• Business Insider

The investor group led by Hong Kong tycoon Richard Li had submitted a bid for the remains of the company, which preferred that bid over any others.

But a decision by U.S. Bankruptcy Court Kevin Gross has now put the remains of the company up for public auction.

In a statement released yesterday, Hybrid announced it will increase its previous bid of $25 million to $55 million.

That original bid would have gone directly to the U.S. Department of Energy to pay off a portion of Fisker's outstanding $168 million low-interest loan.

Hybrid also said it plans to utilize Fisker's former General Motors assembly plant near Wilmington, Delaware, for future plug-in car production--seemingly a reversal of the group's previous stance.

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