Staff Writer - CheersandGears.com
August 16, 2012
Fisker is looking to raise another $150 million to help keep the company afloat.
"We need money on our balance sheet" to fund operating expenses. "And we need money to fund the development of the next car," said Ray Lane, a Fisker director and a managing partner at venture firm Kleiner Perkins Caufield & Byers to Reuters."We're raising some of that money now, and some later."
The reason for the extra $150 million? Earlier this year, Fisker's request for $264.5 million in government was denied by U.S. Department of Energy. Couple that with development costs of the new Atlantic and production costs of the Karma and easy to see why they're asking for money.
William Maley is a staff writer for Cheers & Gears. He can be reached at firstname.lastname@example.org or you can follow him on twitter at @realmudmonster.