Fisker boss will 'burn as much cash as it takes' as it takes on Tesla

Lu Guanqiu, the chairman and founder of Wanxiang Group Corp. who purchased Fisker, plans to manufacture electric cars in the United States and ultimately in China.

May 19, 2014 05:00 AM

BEIJING (Bloomberg) -- The Chinese billionaire who bought Fisker Automotive Holdings Inc. at a bankruptcy auction is planning to build a new slate of electric-drive cars in the United States, challenging Tesla Motors Inc. on its home turf.

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