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Fisker is Back: CEO Lu Guanqui Hopes to Challenge Tesla

Most of us probably don’t know who Lu Guanqui is, but he is the chairman and founder of China’s Wanxiang Group Corp. who also just bought Fisker at a bankruptcy auction.

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Most of us probably don’t know who Lu Guanqui is, but he is the chairman and founder of China’s Wanxiang Group Corp. who also just bought Fisker at a bankruptcy auction. The Chinese billionaire has big plans for Fisker including being able to challenge Tesla.
“I’ll put every cent that Wanxiang earns into making electric vehicles,” Lu Guanqui recently stated. “I’ll burn as much cash as it takes to succeed, or until Wanxiang goes bust.”

Lu hopes to build electric cars in both the U.S. and China. The purchase of Fisker’s assets also gives him access to about three dozen patents and the former GM plant in Wilmington, Delaware. He plans to continue building the Fisker Karma with other hybrid models planned, although no other details were released.

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