China’s automotive conglomerate Zhejiang Geely Holding Group is leading the bids for a controlling share in US electric car maker Fisker Automotive, Reuters reported, citing two sources familiar with the matter. Fisker has also received a bid from China’s state-controlled Dongfeng Motor (0489.HKG). Both offers came in between US$200 million to US$300 million and were received in the last three weeks, according to the sources. Fisker’s management and their advisers consider Geely more “passionate” about the US firm, said one of the sources. They also believe Geely will operate more efficiently as it is not subject to the bureaucracy typical of Chinese government-controlled companies.
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