Fisker seeks more money before delivering its first vehicles next month

Article by Christian Andrei, on June 3, 2011

Fisker Automotive Inc. has disclosed that it has obtained $600 million in venture-capital funding to date. The company, which is a maker of luxury plug-in hybrid cars, intends to seek more funds before it will deliver its first batch of vehicles in July.

Last May 12, the company revealed a plan to obtain $100 million, and has since raised that amount to $115 million, the company’s chief financial officer Joe DaMour stated in a telephone interview Thursday.

The company concluded two similar rounds during the middle of 2010 and early 2011 that each raised $190 million, DaMour further disclosed.

However, he refused to discuss the timing of a possible initial public offering for the company. DaMour stated that the company is in a “very solid financial position” and will maintain or strengthen that. On another note, customers in the U.S. will begin receiving Fisker's first plug-in model, the Karma sports car, by the middle of July.

This sports vehicle can go about 50 miles (80 kilometers) on battery power before the power runs out. Then a gasoline engine will propel it.

Henrik Fisker, the company's chief executive officer, had previously disclosed during a November 2010 interview that an IPO was possible after starting the production and sales for Karma. The price of this model ranges from $95,800 to $108,000, before a $7,500 federal tax credit, Fisker disclosed.

In 2009, the company obtained a $529 million federal loan, along with its privately raised capital, that is being utilized to renovate a Delaware plant formerly owned by General Motors Co. This plant will be producing the company’s Nina model, which is a lower-priced plug-in vehicle, beginning in 2013.

Topics: fisker, deliveries

If you liked the article, share on:

Comments

Login or Create new account to add a comment!

Recommended

Volkswagen Group’s dieselgate saga continues, but it appears the German company would be able to get out of trouble, but it would not be unscathed. This development comes as Volkswagen...
by - January 22, 2017
When a car has been in the market for nearly six years, it loses some of its luster and its customers tend to go for the all-new model with a...
by - January 22, 2017
Remember Zenos Cars, a British carmaker that specializes in designing and building lightweight and high-performance sports cars? If you are wondering how the company is faring with their E10 lightweight...
by - January 21, 2017
Mercedes-Benz has revealed that in 2017, its series 124 coupé will be celebrating its 30th anniversary. While this itself is a significant event, it will also mean that this model...
by - January 21, 2017
BMW’s 550i xDrive has long been considered as one of the most successful business sedans in the world. For the brand, this may not be enough as it has officially...
by - January 20, 2017
Facebook

Youtube Channel

Tip Us
Do you have a tip for us?
Did you film an important event?
Contact us
Newsletter
Subscribe to our newsletter!
Subscribe
Galleries