Fisker Automotive Closes Deal To Rent A Massive Facility In Southern California

Luxury electric carmaker Fisker Automotive is attempting an against-all-odds return from the dead in the hands of its new owners: China’s Wanxiang Group.

Wanxiang bought the bankrupt Fisker Automotive early in 2014, with some dubious indication that the electric-carmaker and its sole offering – the Fisker “Karma” – would be making a return.

But as the LA Times reports, Wanxiang Group is close to getting Fisker Automotive to turn over once again, with the latest signs of activity being the rental of a 555,670 square-foot facility in Moreno Valley, Southern California. The deal was struck between the Chinese Wanxiang, and Colliers International, who represented landlord First Industrial Realty Trust during the negotiations.

Real Estate Broker Ian DeVries of Colliers International said that the facility would be well-suited to housing one or more production lines because it is 1,600 feet in length, and relatively slim. According to some local real estate experts, the Fisker Automotive deal is likely valued somewhere around $30 million over the next decade, although the exact details of the rental deal have not been disclosed.

The LA Times reports that Fisker Automotive is looking to get moved-in, tooled-up, and producing new electrified vehicles as soon as possible.

Won’t Leonardo DiCaprio be pleased.

Aaron Birch is an automotive enthusiast and writer/filmmaker from Detroit, MI. As a rule, he only buys cars older than himself.

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