Fisker raises another $40 million but has ‘no specific usage’ for it

According to a document the company filed with federal securities regulators, Fisker Automotive has raised another $40 million to build its plug-in hybrid vehicles. The Irvine, California based automaker that has plans to build plug-in hybrid vehicles in Delaware recently closed a $150 million funding round in February.

Between the public funds, private equity investment and other sources, Fisker has raised more than $1 billion to build its two lines of plug-in hybrid vehicles. The company has plans to build six models on two platforms.¬†Fisker has ‘no specific usage’ for the additional $40 million but gives the company a ‘nice comfortable cushion,’ said Roger Ormisher, a Fisker spokesman.

iFisker begun production of the $95,900 (before federal incentives) Karma plug-in hybrid sedan last month and has taken 3,000 pre-orders for the car. Deliveries are scheduled to begin this summer.

Come 2012, Fisker plans to start building an ‘affordable’ plug-in hybrid vehicle, the Nina, at the old GM plant in Delaware. Ormisher said the Karma and Nina projects are fully funded.

– By: Omar Rana

Source: Delaware Online