Fisker Automotive Raises $85 Million

Fisker Automotive announced that it raised $85 million in venture capital backing from New York-based Eco-Drive (Capital) Partners LLC, a European-American investment consortium, and Kleiner Perkins Caufield and Byers.

The company will put the money towards production of its $87,900 Karma plug-in hybrid. Fisker recently announced that it has 32 dealers nationwide prepared to sell and service its autos. The auto startup is hoping for a loan from the Department Of Energy to speed up their production.

Fisker hopes to deliver its first Karma at the end of the year. It will be built in Finland by Valmet.

Fisker won’t disclose its total amount of money raised to this point, but a spokesman said it’s over $150 million, and our earlier estimate of $185 million wasn’t that far off.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.