Report: Fisker weighing bids, including Dongfeng

• Bid said to call for 85%25 control by Chinese automaker
• Fisker has been seeking investor or partner to finance turnaround
• Company says it has multiple bids from different continents

Fisker Automotive, in the hunt for a buyer, is weighing several bids, including a $350 million offer from Dongfeng Motor that would give the Chinese carmaker majority control, said people with knowledge of the matter.

Fisker makes the Karma luxury sedan, a $100,000-plus plug-in electric car with a range-extending gasoline motor, similar to the powertrain of General Motors's Chevrolet Volt.

Dongfeng, based in Wuhan, China, would gain 85% of Fisker under the terms, said one of the people, who asked not to be named because the process is private. Fisker had sought bids by Feb. 6, said that person.

"The company has received detailed proposals from multiple parties in different continents, which are now being evaluated by the company and its advisers," said Fisker spokesman Roger Ormisher in an e-mail. He declined to elaborate.

Teaming with Dongfeng could help Anaheim, Calif.- based Fisker solidify a turnaround and provide funds to pay back loans from the U.S. government. Fisker had to halt making the Karma last year after battery supplier A123 Systems filed for bankruptcy, but said on Feb. 7 that it would restart production "fairly soon."

Calls to Dongfeng's offices in Wuhan and Hong Kong seeking comment weren't answered. Chinese businesses are closed for the week-long Lunar New Year break.

Fisker, led by CEO Tony Posawatz, said in December that it was working with Evercore Partners to find investors or partners. Without a partner or buyer by midyear, Fisker may face a cash crunch, a person familiar with the matter said last month. Posawatz once was vehicle line director for the Chevrolet Volt.

Fisker still owes the U.S. Energy Department about $200 million from a loan package that the government froze last year after Fisker missed certain goals. Fisker also hired Huron Consulting Group to help run day-to-day operations, with Huron's Hugh Sawyer serving as chief administration officer.

If a Dongfeng deal is done, the company may eventually move Fisker production to China, one of the people said. The Karma is built by Finnish contract builder Valmet Automotive. One purpose of Fisker's government loans was to refit a former GM plant in Delaware to build a second, cheaper model.