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AUTOMOTIVE INDUSTRY NEWS
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Fisker Automotive raises another $40 million

The green carmaker says the funds 'ensure' the Karma and Project NINA product lines are 'fully funded.'

By Kristen SchottPublished: April 13, 2011 02:06 PM

Photo courtesy of Fisker Automotive
Luxury green carmaker Fisker Automotive has secured another $40 million in funding. The financing "ensures" that the company's Karma and Project NINA auto lines are "fully funded," said spokesman Roger Ormisher.

The new funds follow a $150 million financing round that closed earlier this year; in total, the carmaker has raised more than $1 billion.

Though the company does not have a specific plan for the new capital, Ormisher said it gives Fisker a "comfortable cushion."

Fisker, which recently moved its headquarters from Irvine into an expanded facility in Anaheim, has started production on its plug-in hybrid Karma sedan at a "slow ramp up to ensure quality," said Ormisher.

He added that Karma models are slated to be delivered to dealer demonstrators in Europe and the U.S. starting next month, and initial customer cars are expected to arrive beginning in June.

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Readers Feedback:

I hope the Fisker is not another smoke and mirrors project. Remember the "Dale in the 1970,s? google it.
Comment at 4/14/2011