Fisker Wins More Funds
Published Jan 19, 2010
IRVINE, California — Fisker Automotive has received $115.3 million, mainly from private equity investors, to help fund development of a second car, a sedan code-named Project Nina that is slated for production in 2012.
The new funding comes from venture-capital firm Kleiner Perkins Caufield & Byers, one of the original investors in the company; Ace Investments, and battery maker A123 Systems. A123 also signed a contract to supply lithium-ion batteries for the $88,000 Fisker Karma.
Fisker last year was awarded a $528.7 million loan from the U.S. Department of Energy. The loan was conditional on receiving additional funding from investors.
Fisker said some of the new funding will be used to "speed completion" of the Karma, which is slated to go into production later this year.
Inside Line says: Tesla has an early lead in the premium EV/HEV sweepstakes, but Fisker hopes to catch up quickly over the next few years. — Anita Lienert, Correspondent