A startup automaker led by a former General Motors Corp. executive is reportedly in talks on a possible deal to buy struggling Fisker Automotive Inc.
The Anaheim-based luxury hybrid automaker shed most of its local workforce last month after separate sale talks with other prospective buyers stalled in March.
VL Automotive, which is led by Bob Lutz, and China-based Wanxiang Group have reportedly made an offer to buy Fisker for $20 million if it files for Chapter 11 bankruptcy.
Lutz is the former vice chair of General Motors.
VL Automotive unveiled its Destino sedan at the Detroit Auto Show in January. The Destino combined a modified Karma body with the gasoline-powered engine of a Chevrolet Corvette.
—Kari Hamanaka
