Tesla, Fisker Raise More Money

LOS ANGELES — California-based premium plug-in manufacturers Tesla Motors and Fisker Automotive continue to raise hundreds of millions of dollars from investors, with Fisker now just weeks away from delivering its first cars to customers.

Tesla, which builds and sells the pure-electric Roadster, said it had privately sold more than $211 million in stock to CEO Elon Musk, Wall Street investment bank Goldman Sachs and Blackstar Investco, an affiliate of German carmaker Daimler. Goldman also has an option to purchase another $23 million worth of Tesla shares.

Tesla said the money will be used to help develop and launch its third product, the Model X crossover. A second car, the Model S, is slated to go into production next year.

Fisker said it had closed a third round of financing, raising another $115 million from private investors, bringing its total equity funding to more than $600 million. The money will be used to help launch Fisker's second model, the mid-range Nina sedan. Fisker's first car, the luxury Karma, has begun limited production at Valmet in Finland, with the first U.S. customer deliveries now slated to begin in July.

Unlike Tesla, which raised $226 million in an initial public offering a year ago, Fisker has yet to go public. Eventually, it plans to produce up to six models.

Inside Line says: Fisker has not announced official plans or timing for an IPO, which could come later this year or next.