Fisker Set For $85 Million More In Venture Capital Funding

April 7, 2009

Today Fisker Automotive announced they're inches away from receiving $85 million in venture capital funding to help complete development and bring to production the 2009 Fisker Karma plug-in hybrid electric sports sedan.

Fisker Karma

Fisker Karma

Enlarge Photo

Sources of new financing are New York's Eco-Drive Partners, California-based VC capitol firm Kleiner Perkins Caufield and Byers, and an as-yet-named European-American investment consortium. Said CEO Henrik Fisker: "this investment is a strong endorsement of our business model and future product offerings in a challenging business environment." The deal is not yet official but Fisker Automotive fully expects it to close by the end of April.

The Karma is slated for production later in 2009 and will retail for $87,900 prior to tax credits. The stunning four-seater uses two electric motors to accelerate to 60 mph in the five-second range and can travel up to 50 miles on pure electric propulsion before a GM-sourced 2.0-liter turbocharged four turns a generator to recharge the Karma's lithium-ion battery pack. Total range of the vehicle is said to be up to 300 miles depending upon driving style; fuel economy is a claimed 100 mpg.

Fisker Automotive also hinted at a lower-priced vehicle in the works, something closer to the recently announced $50,000 Tesla Model S.

[source: World Car Fans]

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