Fisker Secures More Funding for Electric Cars
IRVINE, CA --- Electric car maker Fisker Automotive said it has secured access to an additional $115.3 million in private equity funding to develop plug-in hybrid cars.
IRVINE, CA --- Electric car maker Fisker Automotive said it has secured access to an additional $115.3 million in private equity funding to develop plug-in hybrid cars.
This funding is necessary for Fisker to access a $528.7 million U.S. Department of Energy conditional loan that will, in part, help speed completion of the Fisker Karma, the company's first plug-in hybrid.
The automaker acknowledged its good fortune, noting that the funding is coming "at a time when capital is scarce, the auto industry is struggling and the global economy is just beginning to rebound."
Starting at $87,900 the Karma paves the way for development of lower-cost plug-in hybrid technology for a second, family-oriented car code-named Project Nina. Project Nina is expected to be built in Wilmington, DE, at a former General Motors assembly plant starting in 2012.
The Karma will be built in Finland, mostly using U.S. parts. Production is expected to begin late next year, with a target of 15,000 vehicles annually.
"Raising $115 million in these times speaks volumes about the value of our business model and the vast potential of plug-in hybrids," said CEO Henrik Fisker.
More Green Fleet
First Look: Slate Auto's Electric Fleet Pickup
Could an affordable, modular EV pickup make electrification more practical for fleets?
Read More →
Slate Debuts Colorful, Unique EV Models
A recent media and client event, studded with electric vehicles dressed up on platforms, planted a new position for the manufacturer in the wider EV market. Fleets will find cost-saving advantages.
Read More →
Slate Electric SUV, Pickup Switchable Model Aims For Light-Duty Fleets
Everything about this EV is counterintuitive and understated, making it stand out from the crowd.
Read More →
Inspiration Mobility Acquires Key Electrada Assets
Inspiration Mobility Group has acquired select assets of Electrada, adding the fleet electrification provider's team, technology, and charging infrastructure development capabilities to its energy management business.
Read More →
Turning Connected Vehicle Data Into Decisions That Matter
Fleet leaders have more data than ever, but turning that data into clear, actionable decisions remains a challenge. This white paper shows how leading organizations are using connected vehicle data to improve safety, reduce costs, and optimize fleet performance. Learn how to turn insight into action across your fleet.
Read More →
Are You Tracking Your Fleet's True Total Cost of Ownership?
Bobit Business Media surveyed 190 fleet professionals and found that while most fleets are tracking costs, fragmented systems and data gaps are keeping true TCO visibility out of reach. With rising pressure to control spend in an increasingly volatile environment, the gap between what fleets think they know and what the data actually shows is wider than you might expect. See how your peers are managing costs today and where the industry still has room to improve.
Read More →
Hybrids: Electrification Without the Challenges
For fleet managers, fuel is one of the biggest line items in the budget — and it's one hybrids can shrink without changing how your people work. Download the eBook to see the numbers, understand the technology, and get a step-by-step guide to making the switch.
Read More →
Why America’s Most Popular Vehicle is So Hard to Electrify
Turning America’s favorite workhorse electric means balancing range, payload, charging infrastructure, and price, an equation automakers are still trying to solve.
Read More →
Startup ZMD Motors Developing Electric Conversion for Ram 5500 Work Trucks
Detroit-based company says it has begun early development of a system to convert internal combustion Ram 5500 chassis-cab trucks to electric power.
Read More →