The fate of Fisker hangs in the balance and had been on track to be sold to billionaire investor Richard Li’s investment group.

But not so fast. It looks like Wanxiang Group, which pulled off a successful acquisition of battery maker A123 Systems despite concerns that the deal would be de facto tech transfer of American financed IP to China, is gunning for Fisker.

A123 Systems provided the batteries in the Fisker Karma and that relationship turned toxic after the batteries were recalled. In fact, Fisker was a creditor in the A123 Systems bankruptcy, given that it wanted to collect on battery warranties.

The Boston Globe now reports that Wanxiang wants an auction for Fisker, which means it could challenge Li. Given that Wanxiang already owns A123 Systems, the company could restart the battery business and relaunch Fisker.

While those in the tech and automotive world have closely followed the disastrous story of Fisker, the consumer is mostly dumb to the trajectory. I say this because I think there’s a marketing push that could still get made to sell perhaps a well designed, less expensive Fisker into the market, particularly over the next few years as EVs become more proven and trusted with consumers.

As with anything, it’s how cheap you can pick up the assets and how well managed a relaunch would be. Those are big ifs, but it’s fair to say Fisker isn’t dead yet.