Bankruptcy Judge Kevin Gross rejected a planned sale of Fisker Automotive to Hong Kong businessman Richard Li in favor of competitive bidding, opening the way for China's largest auto parts company to bid for the maker of the Karma plug-in hybrid sports car, Reuters reported on Friday. Judge Gross said on Friday that competitive bidding between a company affiliated with Li and a unit of auto parts maker Wanxiang Group of China was the best way forward. He scheduled a hearing for 2 p.m. today to decide how to proceed with an auction.
