Fisker Gears Up With $65M for Karma


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.

Comments are closed.