Wanxiang Group Corporation, headquartered in Hangzhou, Zhejiang province, China. Its automotive components subsidiary (Wangxiang Qiaochao) is the largest China-based automotive components company measured by revenues. The company was founded in 1969. In February 2014, Chinese auto-parts supplier Wanxiang Group purchased assets of Fisker Automotive for $149.2 million in a bankruptcy auction. These assets included designs, a plug-in hybrid powertrain, and the former Wilmington Assembly factory in Wilmington, Delaware. The company said that it would restart production and the company was renamed to Karma Automotive, and their car was renamed Revero.
wanxiang.com
Wanxiang America, Inc.
Wanxiang America Corporation, based in Chicago, is the U.S. home office of Wanxiang Group Companies China. U.S. companies and customers can deal in U.S. dollar currency and U.S. contracts when working with China. Involved in automotive and industrial markets in the U.S., Wanxiang America is the source for all of Wanxiang Group/China’s products in the United States.
Wanxiang received U.S. bankruptcy court approval on February 18, 2014, to buy the assets of Fisker Automotive, a manufacturer of plug-in hybrid sports cars that was declared bankrupt in November 2013. Wanxiang’s American subsidiary won a three-day auction with a bid of US$149.2 million
On October 16, 2012, A123 Systems had filed for bankruptcy protection. Wanxiang won an auction for the bankrupt United States-based lithium-ion battery maker in December 2012, for a closing price of US$256.6 million. A123 Systems had more than 3000 employees as of that date.
Also based here is the American arm of the America-China Bridge Program. The Wanxiang America-China Bridge program is designed to get American Companies past the red tape, mis-understanding, and bureaucratic snags which are still all-to-common in China. With it’s stature as a leading independent business in China and the advantage of a strong American presence, Wanxiang is uniquely suited to be of service to American firms seeking trade in China.
Wanxiang America, Inc.
88 Airport Road
Elgin, IL 60123
Phone: 847-622-8838
Wanxiang Group Corporation
Wanxiang Group Corporation is a Chinese multinational automotive components manufacturing company headquartered in Hangzhou, Zhejiang province, China. It is the largest China-based automotive components company measured by revenues.
Headquarters: Hangzhou, China
Founded: 1969