• Jun 2, 2010
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]


I'm reporting this comment as:

Reported comments and users are reviewed by Autoblog staff 24 hours a day, seven days a week to determine whether they violate Community Guideline. Accounts are penalized for Community Guidelines violations and serious or repeated violations can lead to account termination.


    • 1 Second Ago
  • 11 Comments
      • 4 Years Ago
      the more i hear about Fisker the more i think of Preston Tucker
      • 4 Years Ago
      "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. "


      And that is where they lost me. Saved or created. Really?
      • 4 Years Ago
      Being a Delaware resident (minus one; fine, FU), I can assure you that Obama administration will do whatever it takes to make Fisker a success (read as 'soft' subsidization). The former Boxwood plant that they are referencing is just a few miles from Joey Biden's house.
      • 4 Years Ago
      Seriously, it's too late for Fisker and Tesla if they really had a chance in the first place against the major car companies. Holding the job carrot is a great way to gain peoples support, but who are they kidding? Maybe good intentions, but there is far too much established competition with greater resources and worldwide dealer networks.
        • 4 Years Ago
        They are not competing with major car companies. I believe I recently read that initial Fisker production would be around 20K cars a year. As far as I am concerned more choice in the market place, especially from niche manufacturers providing more exciting products than the majors, is a good thing. Remember tiny Apple?
        • 4 Years Ago
        tx- I hear ya, but look at the number of car companies vs the number of computer companies. And our money is being used to support these new ventures.
      • 4 Years Ago
      well...it sounds like they're having better luck than tesla
        • 4 Years Ago
        i was going to say the same.

        Does anyone know if they will be making any profit off the first production year? I would think that all the existing companies have a huge advantage over start ups like fisker and tesla so their products are going to have to be extremely good to make a to get them started. If they screw up the first model it would make it almost impossible for them to servive for a second model
      • 4 Years Ago
      The Karma is (IMO) gorgeous. Having nearly $1B will help, now it really depends on them hitting their production target (with quality extremely high).
      • 4 Years Ago
      Those with deposits are gunna be grumpy, great car though