Sources say Geely leads in fight for Fisker
Zhejiang Geely, which owns Volvo, leads the bidding to take over Fisker Automotive, sources tell Reuters.
That's because privately owned Geely can move faster than the only other company -- state-owned Chinese giant Dongfeng -- to make a firm bid for the troubled U.S. electric-car maker
Fisker executives believe Geely is "more serious" and "passionate" about Fisker and its technology, one source said. "Most of all, with Geely we're dealing with one decision maker," the source said, referring to its founder and chairman, Li Shufu.
Geely also "can move fast" in making decisions, unlike Dongfeng, with its multilayered decision-making structure.
Sources said both offers for a majority stake range from $200 million to $300 million.
"Overall, we think Geely is a better fit," the source said.
Fisker declined to comment.