The Money Will be Invested in an Unnamed Battery Company
Fisker Automotive, makers of the Karma plug-in hybrid, have just raised $3 million to purchase a stake in a soon-to-be-named battery company. The plan, according to Fisker spokesperson Russell Datz is to "secure exclusive supply of battery technology." Obviously Fisker wants more control over its supply chain...
Since raising that $65 million last fall, the Irvine, Calif.-based startup has progressed toward its goal of delivering Karmas to customers by the end of this year. Fisker has unveiled plans to use a four-cylinder engine from General Motors for the Karma and started building up a dealer network. In November, Fisker finalized plans for Valmet Automotive of Finland to assemble the Karma when it reaches full-scale production — about 1,200 vehicles a month
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