The rebirth of Fisker?

Never say die.
A Delaware judge approved the sale of Fisker to Chinese conglomerate Wanxiang yesterday, the same company that picked up embattled battery maker A123 Systems in 2012 (A123 Systems and Fisker were each embattled in legal turmoil with each other related to recalls of batteries A123 provided for the Fisker Karma). And not a minute after the approved sale, Wanxiang’s head of the American division Pin Li tells Gigaom’s Kate Fehrenbacher that the company will “immediately” restart production of the Karma as well as providing parts/service for the existing Karmas once the deal closes.
While I praise companies like Tesla, Nest and Opower which have devised great products and services, and found great success, I’m often even more impressed with turnaround stories. They require the vision to see a product and a market where others only see failure. Fisker has a number of challenges, ranging from engineering to supply chain, but who better than to help with these sort of inefficiencies but an automotive parts company. Also, I suspect that Wanxiang sees major potential in the Chinese market, not just the U.S. market. For the growing wealthy in China, high priced status cars that set the consumer apart is the name of the game. And Fisker’s design and uniqueness could be a real asset in selling into the Chinese market.
Is the brand tarnished and damaged? Certainly in the U.S. Will the company need a great engineering and operations team to make this round of production faster,  more efficient, and recall proof? Of course. Will it need a renewed marketing effort? Sure. Are these things impossible to achieve? No.