Fisker Automotive Raises $85 Million More in Venture Capital for Karma Plug-In Hybrid


Click on the photo above to see our Fisker Karma slideshow. Photo: Fisker
This Car has Good Karma
Fisker Automotive is getting closer to launching the Karma plug-in hybrid, a car with a powertrain that works on a principle similar to the GM Volt: It's 100% electric for the first 50 miles, and after that a gasoline engine kicks in to recharge the battery (but the gas engine never directly powers the wheels). But to get to full production, it needs money, which is why it raised an extra $85 million in venture capital from New York-based Eco-Drive (Capital) Partners LLC, a European-American investment consortium, and Kleiner Perkins Caufield and Byers, an early investor in Fisker.
Click on the photo above to see our Fisker Karma slideshow. Photo: Fisker

Henrik Fisker, the CEO of Fisker Automotive, said:

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. This investment is a strong endorsement of our business model and future product offerings in a challenging business environment.

The 2010 Fisker Karma is expected to be the first plug-in hybrid car to market when early production vehicles come off the assembly line in Finland late this year (but if you order now, you'll only get your Karma in the second half of 2010). Fisker has recently announced that it would have more than 30 retailers to distribute the car across the US.

Fisker has also started taking orders for the Karma S hard-top convertible plug-in hybrid, which should start shipping in 2011.

Via Fisker Automotive


More Electric Cars
Best of Green: Cars & Transportation (Slideshow)
GM Says Volt Will Stick Around Even if it Loses Money
Due to Demand, Mitsubishi Increases i MiEV Electric Car Production
Tesla Motors has Taken 520 Reservations for the Model S Electric Sedan in a Week

Tags: Electric Cars | Electric Vehicles | Hybrid Cars | Transportation

WHAT'S HOT ON FACEBOOK