Per the OC Business Journal,
Anaheim-based luxury hybrid automaker Fisker Automotive Inc. filed for Chapter 11 bankruptcy and is expected to be sold to a group that includes Hong Kong billionaire Richard Li. Li’s group, Hybrid Technology LLC, reportedly won an auction in which Fisker’s loan from the U.S. Department of Energy was put up for sale. Reports peg the purchase price at $25 million.
Per Bloomberg, the sale of the loan issued via the Obama Administration caused a loss of $139 million to American taxpayers.