Fisker reportedly seeks $100 million in funding by end of the month
The California-based maker of the extended-range plug-in Karma luxury sedan, is looking to raise at least $100 million in funds by the end of this month in order to restart production of its Delaware plant, Bloomberg News reported, citing two people who declined to be identified.
The company is looking for cash to fix a glitch in the Karma, which has sold about 600 units since starting production last year, and restart work in Delaware, according to the wire service. The money would bring Fisker's total fundraising to about $1 billion, Bloomberg said, adding that Fisker spokesman Russell Datz declined to comment on the fundraising efforts.
Restarting work on the Delaware factory would speed up the development of Fisker's less expensive Nina model.
Fisker, which has taken about 2,500 Karma orders, was set to get $529 million in U.S. Department of Energy (DOE) loans, but has received less than $200 million because of production delays. Because of such funding issues, Fisker laid off some workers.
Earlier this week, Fisker put out a teaser sketch of the Nina, which will be shown off at the New York International Auto Show next month. That model is set to start production next year, with sales beginning as soon as late 2014.
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