Today's press release is more great news for Fisker Santa Monica
IRVINE, CA – January 15, 2010: New American
carmaker Fisker Automotive has secured access to an additional $115.3 million
in private equity funding to develop plug-in hybrid cars.
This funding is necessary for Fisker Automotive (www.fiskerautomotive.com) to access a $528.7 million U.S. Department of Energy
conditional loan that will, in part, help speed completion of the Fisker Karma,
the company’s first plug-in hybrid.
The raise comes at a time when capital
is scarce, the auto industry is struggling and the global economy is just
beginning to rebound.
Starting at $87,900 the Karma paves the
way for development of lower-cost plug-in hybrid technology for a second,
family-oriented car code named Project NINA. Project NINA is expected to
be built in Wilmington, Delaware at a former General Motors assembly plant
starting in 2012.
“Raising $115 million in these
times speaks volumes about the value of our business model and the vast
potential of plug-in hybrids,” said Henrik Fisker, CEO.
Investors include A123 Systems, Ace
Investments and Kleiner Perkins Caufield & Byers.
Fisker Automotive earlier this week
signed a multi-year supply agreement with A123 Systems for the lithium-ion
batteries that will power the Karma.
“Fisker Automotive selected A123 because
of the company’s ability to meet our performance needs and rapidly scale to our
production volume,” said Fisker. “We are committed to developing
environmentally friendly cars that don’t sacrifice style or performance.
A123’s technology will ensure the Karma delivers.”
Designed and engineered in the U.S., the
four-door Karma proves eco-friendly cars can still have style and power.
The Karma can reach 60mph in six seconds and top 125mph, yet runs cleaner and
more efficiently than today’s most popular hybrids.
ABOUT FISKER AUTOMOTIVE, INC.
Fisker Automotive is a privately owned,
premium American car company with a vision to lead the automotive industry into
the next-generation of automobiles with high-end design expertise and
eco-friendly powertrain technology. Global headquarters are in Irvine,
California, USA.
The
company was created in 2007 to leverage the design capabilities of Fisker
Coachbuild, LLC, founded by auto design veterans Henrik Fisker and Bernhard
Koehler, and the PHEV powertrain capabilities of Quantum Fuel Systems
Technologies Worldwide, Inc. (NASDAQ-QTWW), a major Tier 1 supplier of clean
vehicle technologies to the automotive OEMs. Previously, Fisker, CEO, was
design director for Aston Martin and president and CEO of BMW’s
DesignworksUSA. Koehler, COO, led operations for Ford’s Global Advanced
Design Studio and created concept cars for Aston Martin, MINI and BMW. #
