Updated. Electric car maker Fisker Automotive has already raised over $1 billion in equity, loans and grants. And yet, the company, which will be launching its first inaugural electric car this summer, has raised another $100 million. The financial filing is here, and the Wall Street Journal has more details . That’s on top of the $190 million which Fisker recently closed.
Last month, Fisker spokesperson Roger Ormisher told me the company plans to launch its first electric car, the Karma, to dealerships for demonstrations in May or June and then to customers in June or July. The launch of Fisker’s inaugural extended-range car has been pushed back from late 2009, to late 2010, and now to summer 2011. Fisker bumped up the price of the Karma in December to $95,900 as the baseline price, and $103,900 and $108,900 for the Eco Sport and Eco Chic lines respectively.
Ormisher told the Wall Street Journal the new funds would enable Fisker to launch the Karma and also the lower-cost Nina, with “a good cushion.” Though, as the Wall Street Journal notes, that’s what it seemed like the previous round was for, too. Fisker’s investors include high-profile venture capital firm Kleiner Perkins, NEA, and battery manufacturer A123 Systems, among other investors, and Fisker also scored one of the Department of Energy’s coveted green car manufacturing loans of $528.7 million.
Few greentech startups have raised similar fund sizes without yet launching products. Electric car infrastructure company Better Place has raised at least $750 million to launch its network of charging and battery swap stations across nations like Israel and Denmark. Solar panel maker Solyndra has raised around $1 billion, but Solyndra has also been selling significant volumes of solar panels for months. Solyndra ditched its original IPO plans back in 2010, and Fisker, too, has been rumored to IPO, or at least its investors have hinted as such to the media.
Update: Fisker’s Ormisher sent me his comments on the latest funding:
“In addition to our very healthy last round of fund raising, we are delighted that investors are still wanting to pro-actively be part of the success that is driving Fisker Automotive and our stylish Karma EV. This latest round of investment while underlining the complete funding of our Karma and future project Nina vehicle lines ensures that we have enough finance to support a robust future business plan and possible other model derivatives.”