Fisker Automotive has secured access to an additional $115.3 million in private equity funding to develop plug-in hybrid cars. This funding is necessary for Fisker to access a $528.7 million U.S. Department of Energy conditional loan that will, in part,help speed completion of the Fisker Karma, the company’s first plug-in hybrid. The raise comes at a time when capital is scarce, the auto industry is struggling and the global economy is just beginning to rebound. Starting at $87,900 the Karma paves the way for development of lower-cost plug-in hybrid technology for a second, family-oriented car code named Project NINA. Project NINA is expected to be built in Wilmington, Delaware at a former General Motors assembly plant starting in 2012. “Raising $115 million in these times speaks volumes about the value of our business model and the vast potential of plug-in hybrids,” said Henrik Fisker, CEO.
COMMENTARY: That $115 million venture capital raise is impressive, but so is the Karma. What a cool car. That's what I call a hybrid with range. 300 miles. Fisker Automotive appeared on my radar earlier this month when it was announced that they had received a Stimulus Plan loan for $528 million subject to certain conditions. It looks like Fisker is moving quickly to obtain independent funding. However, the first Karma will not roll off the assembly line until sometime 2012.
Courtesy of a press release by Fisker Automotive dated January 19, 2010
One of the great things of these upscale and expensive cars like the Karma is that the technology will trickle down to the more affordable and mainstream models.
Posted by: Fisker Karma | 02/19/2013 at 08:12 PM
Seriously it's a very nice car. I was mesmerize by its look and style. Couldn't wait for the out of this hybrid sports car.
Posted by: Spartan ab workout | 06/21/2011 at 09:07 PM
The Fisker Karma hybrid is by far one of the best looking hybrid cars I've seen. Yes, it's very impressive but it's sleek and has better mileage range than any other hybrid on the market I think.
Posted by: Fisker Repair Las Vegas | 06/01/2011 at 09:41 AM
There are some interesting points in time in this article but I don’t know if I see all of them center to heart. There is some validity but I will take hold opinion until I look into it further. Good article , thanks and we want more!
Posted by: anton martinez | 05/26/2011 at 01:54 AM