Hybrid propulsion or not, wunder-designer Henrik Fisker couldn't have picked a worse time be to starting a new car company...especially in the United States. Fisker has been adamant that his company will get off the ground and begin production of its much-hyped Karma electric sedan and S convertible, but without the capital invested, speculation was that his efforts could run out of steam prematurely. However, Automotive News is reporting that the upstart automaker has received a healthy cash injection of $85 million to help get production started.
The funds come from two investors: Kleiner Perkins Caufield & Byers, which was one of the first financial firms to invest in Fisker's enterprise, and a new investor Eco-Drive Capital Partners LLC. Will it be enough to get the Karma out on the street? Eighty-five mil is a big hunk of cash, but as any Detroit veteran could tell you, big money has a habit of running out fast in this business, and it generally takes hundreds of millions of dollars to launch new models.
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[Source: Automotive News – subs. req'd]