Fisker trumps Tesla with $528M loan from Energy Dept.
In a somewhat unexpected move, the U.S. Department of Energy has granted luxury plug-in hybrid-electric car maker Fisker Automotive a $528.7 million conditional loan to finance the development of two different car models. As part of the stimulus package, the money — announced today by Energy Secretary Steven Chu — could help Fisker create up to 5,000 jobs — it also beats out $465 million in loans the DOE gave to the company’s primary competitor,… Continue Reading
Fisker taps EnrDel for electric car batteries
Lithium-ion battery maker EnerDel Lithium Power Systems has struck a deal of intent with Fisker Automotive to provide batteries for its swanky hybrid-electric Karma vehicle, slated to be released next year. A long-term contract will depend on in-car performance testing. With Fisker leading the race to launch the first hybrid-electric car, this development would give EnerDel a huge leg up on its competition.
Until now, it was assumed that Advanced Lithium Power (ALP) would be the… Continue Reading
Fisker zooms ahead with $85 million for battery-powered car
Fisker Automotive, maker of the jaw-dropping battery-powered Karma sports car (see above), announced that it’s landed $85 million in venture capital to begin production. The money came from Eco-Drive Capital Partners and Kleiner Perkins Caufield & Byers. The Irvine, Calif. company has now raised more than $100 million for its vehicle, expected to sell for a little less than Tesla’s comparable roadster, at $87,900 a pop. It says it’s already fielded 1,300 reservations for the… Continue Reading