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AUTOS: Fisker Ready For Production
Investers for plug-in hybrid cars add another $100 million to Fiskers war chest to start assembly lines rolling in Finland.
Viknesh Vijayenthiran  | http://motorauthority.com  |  Posted May 16, 2011   Irvine, CA
The first roll-out of a production-ready Fisker Karma happened at the Paris Auto Show. (Photo: Fisker)
First shown at the 2008 Detroit Auto Show, the Fisker Karma has led a typical life for a performance plug-in hybrid concept: delays followed by reassurances, followed by more delays.

Originally to be in production and on sale by late 2009, the car finally started rolling down the line at independent-vehicle-manufacturer Valmet’s plant in Finland last month, and the first cars are on schedule to reach their U.S. customers this month.

This lengthy delay doesn’t appear to have deterred investors from pouring an additional $100 million into Fisker’s coffers, which the California-based startup revealing last week in a U.S. Securities and Exchange Commission filing.

Note, this is on top of financing of $190 million raised in March, as well as $115.3 million raised in January 2010 and a whopping $528.7 million low-cost loan from the Department of Energy, which was granted to Fisker in late 2009.

Why all the funding? Because Fisker has ambitious plans to launch a handful of new models, all luxurious plug-in hybrids, during the coming years and needs the funding for development and production costs. The other models are thought to be coupe and convertible versions of the Fisker Karma, as well as a more-affordable sedan.

The current Karma has a manufacturer suggested retail price of about $96,000 for a basic model and $109,000 for the top-end model.
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