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The billionaire's passion behind Wanxiang's Fisker bid

If it weren't for billionaire Lu Guanqiu, founder of Chinese auto parts giant Wanxiang Group, the Fisker Automotive bankruptcy bailout deal might have closed earlier this month. Hong Kong tycoon Richard Li, along with Li's affiliate company Hybrid Tech Holdings, assumed their offer was going to be accepted. Instead, the US bankruptcy court judge called for an open auction bid for Fisker's assets on February 12. Lu made a few convincing points to the judge. There's another interesting part of the story that Lu didn't share it with the judge. If the Fisker deal doesn't work out, Lu and Wanxiang might increase their working relationship with Tesla Motors. Lu told US bankruptcy judge Kevin Gross that Wanxiang, which now owns Fisker's supplier of lithium batteries, A123 Systems, is better placed than Hybrid Tech Holdings to restart and expand production at Fisker. Better yet, Wanxiang could move production from Finland to the US. That was convincing enough for Gross to schedule the auction. Lu's move toward taking over ownership and restoring Fisker seems to be driven by two motivations: converting his company from a parts maker to an automaker; and to grow the yet-to-be profitable "new energy " business such as lithium battery and electric vehicle makers. For Lu, it's not so much about believing in Fisker – it's more about playing a leading role in electric vehicles – and that could come through deepening its connection to Tesla Motors. "Of course we want to pocket Fisker. But we will bid rationally," he said to Reuters. "Whatever the result, nothing can stop us from making electric cars." Check out more about Lu in this Reuters piece, including how he and six other farmers pooled together $500 in 1969 to start what would become Wanxiang. Featured Gallery Fisker Karma at Laguna Seca News Source: Reuters Government/Legal Green Fisker Tesla Electric wanxiang

Tesla prepping Supercharger network for big growth across Europe

It'd be a nice life to be able to tour across Europe in a Tesla Model S. And that's something the California-based electric-vehicle maker is looking to enable by the end of the year. We're ready. Who's got the key fob? Tesla opened three Supercharger stations in Germany on Thursday and is aiming to string enough together to let drivers roam across the continent purely by Supercharger power by the end of 2014, Bloomberg News says. The company now has 23 Superchargers in Europe, including nine in Germany and six in Norway. Those high-powered stations can half-charge a Model S in about 20 minutes. Tesla has 97 Superchargers in North America. Tesla's most recent Supercharger deployments across the Pond merely reinforces Tesla chief Elon Musk's pledges earlier this year to ensure that all European Tesla owners would be within reach of a Supercharger by year-end, Tesla spokeswoman Liz Jarvis-Shean wrote in an e-mail to AutoblogGreen. Musk said in March that Tesla drivers would be "able to travel almost anywhere in Europe using only Superchargers" by the end of 2014. Earlier this month, Tesla started deliveries of right-hand-drive Model S sedans in the UK. Additionally, Musk estimated that the company would open a factory in Europe once annual sales on the continent reached 160,000 units. By all accounts, that's likely to be a long way off. Earlier this year, Tesla dropped the price of the Model S in Europe, though the company said that move was due to the strengthening Euro and not because of any demand issues.

Tesla Stock Hits All-Time High Hours Before Fifth Car Fire Reported

A Tesla Model S caught fire while parked in its owner's garage in Toronto earlier this month. This marks the fifth car fire in five months for the California automaker, according to CNBC. On Feb. 1, a four-month-old Model S was parked and unplugged in a garage when its owner heard the fire alarm go off. The car was quickly engulfed in flames. The fire damaged the garage and nearly destroyed another vehicle. Toronto Fire Service tells CNBC the engine area was the source of the blaze. Tesla is investigating the fire, and issued a statement to Business Insider reminding consumers that every automotive company expects to deal with car fires at some point and that gasoline cars experience higher car fires than Tesla on average. There have been no deaths due to the fires. Five Teslas have caught fire in the last five months, two were started when their battery packs were punctured by debris in the road. A ho-hum third-quarter in 2013 and news of the fires caused the stock price to dwindle to $120 a share. The company recently reclaimed much of that ground, surging for the first time past $200 a share just this week, Autoblog Green reported. Related: Tesla Model S Test Drive | TRANSLOGIC Related Gallery The Top Ten Best Green Cars -- And 3 Clunkers View 14 Photos Tesla fire engine stock stocks