Fisker Funding Finalized, Series C That Is
Fisker Automotive, Inc., which has plans to bring an $80,000 hybrid sports sedan to the market in the near future, has completed another round of fund raising, bringing in $65 million to support the 
production of the Fisker Karma, according to company executives.
The Karma is a unique four-door plug-in hybrid premium sports sedan that saw its public unveiling in Detroit this past January. The sedan uses state of the art plug-in hybrid technology, known as Q DRIVE, which was developed by Quantum Fuel Systems Technologies Worldwide, Inc. exclusively for Fisker Automotive.
The Karma has an anticipated range of 50 miles with an extended range of at least 350 miles. The automaker says that the Karma will have a potential fuel economy of over 100 miles per gallon (MPG) on extended drives and operate at a top speed of 125mph and 0-60 acceleration in less than 6 seconds.
The sedan will be built in Finland on Valmet Automotive’s assembly line, with initial deliveries expected to begin in the final quarter of 2009. Annual production of the Karma is projected to reach 15,000 automobiles.
“We are extremely pleased to have closed our C financing round at this time, particularly in light of the current market conditions,” said Henrik Fisker, CEO, Fisker Automotive, Inc. “This shows once again that Fisker Automotive has a solid business plan and a globally experienced automotive team with very strong investors behind the company.”
With the completion of Series C financing, Fisker Automotive has been garnering important support for its initiative. Back in January, the company announced that Kleiner Perkins had made a multi-million dollar investment in the company, funds which were added to the initial investment made by Palo Alto Investors.
Fisker’s initial Signature Edition Vehicles are already sold out, but the automaker is currently taking $1000 deposits for Karmas to be delivered in the second half of 2010.
(Source: Fisker Automotive, Inc.)
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