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Fisker adds $189 million in latest funding round


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Posted 02 June 2010 - 07:22 AM

Filed under: Fisker

Fisker Karma - Click above for high-res image gallery
Just a few short days ago, we got word that Fisker Karma production would be delayed once again and a new target date for full production now sits at February 2011. The delay gives Fisker ample time to secure even more funding, and that's exactly what the company is doing. Fisker reports that it just wrapped up its latest round by securing $189 million in additional capital, bringing its total private equity funding thus far to around $339 million.

However, this latest cash campaign is about much more than just money. The additional funds ($115 million of which came in back in January), mean Fisker can trigger its $528.7 million loan from the Department of Energy. The loan will be used to re-open a General Motors plant in Delaware which the company will eventually utilize to develop a line of lower-cost, family oriented models under the Project NINA program. The company estimates that 2,000 new jobs will be created at the site, and that 5,000 more will be saved or created at domestic suppliers and that more plug-in hybrids will be on the roads soon.


[Source: Green Car Advisor]

Fisker adds $189 million in latest funding round originally appeared on Autoblog on Wed, 02 Jun 2010 08:58:00 EST. Please see our terms for use of feeds.

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