A pair of German investors has submitted a formal offer for Fisker Automotive, according to Green Car Reports. Last month, the German magazine AutoBild reported that Fritz Nol and Ingo Voigt group were interested in acquiring what remains of Fisker for $25 million.

“I am proud to tell you that we just sent our detailed offer including a signed letter of intent and short presentation of our restructuring plan to the DOE,” Voight wrote on Facebook this week. “Now it’s time to pray!”

Fisker still owes the DOE $193 million, and the federal agency will have to approve any sale. It’s probably going to insist that any deal results in cars being built in the US, a condition that has scuttled a couple of previous proposals.

The German group reportedly plans to move production of the Karma PHEV from Finnish manufacturer Valmet to a US location. Green Car Reports speculated that that might be Fisker’s idle factory in Wilmington, Delaware.

Source: Green Car Reports, AutoBild