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Summary:

Fisker Automotive is moving full-steam ahead to get its $80,000 plug-in hybrid Karma on the road by the end of 2009 and today announced it will be using $65 million in Series C funding to do so. The company says the round closed on Sept. 4 […]

Fisker Automotive is moving full-steam ahead to get its $80,000 plug-in hybrid Karma on the road by the end of 2009 and today announced it will be using $65 million in Series C funding to do so. The company says the round closed on Sept. 4 and was led by a new investor, an affiliate of Qatar Investment Authority, who joined return investor Kleiner Perkins.

The money will be used to finish development of the startup’s first vehicle, the four-door Fisker Karma. Fisker says it’s still on schedule to begin production in the fourth quarter of 2009 and aims to ramp up production to 15,000 vehicles a year. So far, three prototypes have been built and the company’s engineers are now tweaking the battery management software and running crash-test simulations.

The funding pushed the startup’s total funding close to $100 million. Fisker’s got the money, it’s got the manufacturer, now it just needs to finish designing the car. Oh, and to make sure that pesky lawsuit goes away.

  1. [...] The electric car wars continue as Fisker Automotive gets a $65 million cash injection from Kleiner Perkins, hedge fund Palo Alto Investors and the Qatar Investment Authority (QIA). Earth2Tech has the story and a reminder about the company’s ongoing legal battle. [...]

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  2. [...] and backed by venture capital firm Kleiner Perkins, has plowed steadily ahead in recent months with financing rounds and an assembly contract (not to mention a legal victory). GM’s plant shutdowns and [...]

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  3. [...] and backed by venture capital firm Kleiner Perkins, has plowed steadily ahead in recent months with financing rounds and an assembly contract (not to mention a legal victory). GM’s plant shutdowns and [...]

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  4. [...] and backed by venture capital firm Kleiner Perkins, has plowed steadily ahead in recent months with financing rounds and an assembly contract (not to mention a legal victory). GM’s plant shutdowns and [...]

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  5. [...] sportscar startup Fisker Automotivea, adding $3 million to the $65 million round that the company raised back in September, VentureWire reports (subscription required). While this new investment represents a small portion [...]

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  6. [...] exclusive supply of battery technology from Advanced Lithium Power) to the $65 million the company raised back in September. This latest round brings the company’s fundraising to some $185 million. [...]

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