11/23/2024

Why is a Chinese Auto Parts Company Making Cars in Southern California?

Fisker Automotive recently agreed to lease a 555,670-square-foot industrial building in Moreno Valley, where in June it announced plans to make its luxury, plug-in electric hybrid Karma sports car, according to Colliers International, which represented Fisker in the transaction.

When most people think electric luxury cars they think Tesla, which has been a darling of Wall Street. Fisker, which was founded in Anaheim, has driven a rockier road. Two years ago, it filed for bankruptcy, and last year it was bought at auction by Wanxiang Group, a Chinese auto parts company. Which raises the question: Why would a Chinese company want to make cars in the Inland Empire?

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