Fisker to raise further $85m in venture capital for green automobiles

7 April 2009

Fisker Automotive, Inc., a producer of green technology automobiles, is to receive an additional $85m in venture capital funding for the development and manufacturing of its Karma plug-in hybrid automobiles. The financing is expected to be completed this month and will be the fourth and largest investment round since the company’s inception in August 2007, Fisker said.

New York-based Eco-Drive (Capital) Partners, a European-American investment consortium, and US venture capital firm Kleiner Perkins Caufield and Byers, are to provide the capital.

‘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,’ said Henrik Fisker, Fisker Automotive CEO. ‘This investment is a strong endorsement of our business model and future product offerings in a challenging business environment.’

Fisker Automotive’s debut model, 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 late this year.

The company recently announced a network of more than 30 retailers that are expected to market and service the vehicles.

Fisker Automotive, founded in August 2007 by auto design house Fisker Coachbuild, and clean-powertrain developer Quantum Technologies, is a privately owned American car company producing premium green automobiles.

Copyright © 2009 newnet

Tags: automotive, hybrid, venture capital

This story was published on Tuesday, April 7th, 2009 at 2:33 pm and is filed under North America, energy efficiency. You can follow any responses to article entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

2 Responses to “Fisker to raise further $85m in venture capital for green automobiles”

1. Ronald ll Porter says:

   8 April 2009 at 10:17 am

   I am an Exec Director of a Company registered in the UK currently producing pure electric.hybrids and pure diesel cars,vans,and taxi`s.Our prime target markets are the emerging countries.We are in need of development capital and are currently embarking on a programme to secure this.Your article seems to confirm that you could be an ideal source for us.Please advise if this is a correct assumption and if so how we might engage?
   Thank you
2. Tony Botsman says:

   8 April 2009 at 10:32 am

   Tungsten Blue Technologies has defined and developed technologies wwhich will deliver a 30 recovery of ’sunk’ energy from the suspension environment by converting kinetic to electrical energy for hybrid and electric vehicles. We are keen to establish contact with Fisker and others interested in using this technology.

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