Plug-in electric car maker Fisker Automotive is set to receive an additional $85 million in funding, the company announced today. In a time when raising capital is nearly impossible for even healthy companies, the investment could be viewed as proof a company with a good idea can still lure investors.
New York-based Eco-Drive (Capital) Partners LLC, a European-American investment consortium, and Kleiner Perkins Caufield and Byers, an early investor in Fisker, have together agreed to provide the capital.
“The investment by Eco-Drive and Kleiner Perkins validates our vision of joining together the advances in technology for plug-in hybrid powertrains with the ecochic beauty and eco-conscious comfort of the Fisker Karma. We are proud to have Eco-Drive behind us, and to see Kleiner Perkins reaffirm its confidence in our future direction,” said Henrik Fisker, Fisker Automotive CEO. “This investment is a strong endorsement of our business model and future product offerings in a challenging business environment.”
Fisker expects to kick off production soon of the 2010 Karma, a plug-in luxury sedan with an onboard gasoline engine that runs a generator for extended range. The $87,900 car is designed to travel approximately 50 miles, powered by a lithium-ion battery that can be charged in a few hours from a 110- or 220-volt outlet. After 50 miles, a 2.0 liter gasoline engine runs a generator that can power the car’s electric motors for another 250 miles before refueling.
As previously reported, Fisker — like many other automakers — is also seeking funding from U.S. Depart of Energy’s loan program for alternative energy vehicles. The company says it intends to use funds from the program to develop a new lower-cost vehicle.
