Call it the Bob Lutz effect.
Just days ago it was announced that China's Wanxiang Group placed the top bid to become Fisker's new owner. But before everyone gets annoyed about the fact that a Chinese company has bought the remains of what was an American start-up, there's some good news to consider first. Wanxiang is planning to team up with former GM product czar Bob Lutz, perhaps the ultimate car guy executive.
If you recall, Lutz, in his post GM retirement career, started a new automaker called VL Automotive. These are the guys who've been buying up unsold Karmas and swapping out their hybrids systems for a supercharged Corvette ZR-1 V8. It's basically Lutz's way of calling former Fisker investor Leonardo DiCaprio an environmental panzy. Lutz renamed the newly V8-powered sedan the Destino. Wanxiang, however, has pledged not to completely abandon the hybrid plug-in Karma, and will produce it and the Destino together. At the same time, it'll continue work on future cars that'll combine battery power with gasoline engines. Production will take place in Finland and the US.