Karma Automotive

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 Group Corporation