Fisker raises more than $100 million from private investors

Fisker Automotive said that it has raised more than $100 million from private investors as the automaker tries to overcome issues with the Karma plug-in hybrid sedan and moves to start production of its Atlantic sedan.

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Fisker said that the recent funding round has increased the total to more than $1.2 billion. Production plans for the Atlantic will be released in December.

CEO Tony Posawatz said that the additional funding “is another major vote of confidence in Fisker’s pioneering technology and business model.”

Fisker is still working out an agreement with federal officials after being cut off from one of its loans last year.

– By: Omar Rana

Source: AutoNews