March 7, 2014
Bankruptcy court limits Wanxiang’s ‘old Fisker’ warranty obligations to $400,000
According to the new website for the new Fisker, current owners of the gasoline-assisted electric Karma will only get $2,000 worth of warranty repairs if they purchased their car under the company’s former ownership.
The new Chinese ownership says due to an Asset Purchase agreement certified by the United States Bankruptcy Court for the District of Delaware, new Fisker is only obligated to a total of $400,000 of total warranty claims.
From the The New Fisker website:
Pursuant to the United States Bankruptcy Court for the District of Delaware sale order, Wanxiang America Corporation could only assume an agreement that was dictated by another buyer, so Wanxiang America Corporation was not allowed to change the Asset Purchase Agreement. Within the Purchase Agreement, Section 1.10 (i) provides up to $2,000 per each vehicle warrantied (ii) capped at $400,000 in the aggregate. We understand if you are an owner and paid good money for your vehicle, $2,000 is not what you bargained for or expected. Please understand that this provision was part of the court order that Wanxiang America Corporation assumed and accepted. We are already hard at work discussing ways that we can make this a better experience for all current Fisker owners and hope to bring better news to each owner in the near future.
[Source: The New Fisker via AutoBlogGreen]