- May 30, 2010
Fisker adds $189 million in latest funding round
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 funding round by securing $189 million in additional capital, bringing its total private equity funding thus far to around $339 million.
This latest round of founding is about much more than just money though. 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]