Fisker looks for more money as federal loan remains on hold


Dow Jones Venture Wire and Reuters are reporting that Fisker Automotive  is seeking another $150 million from private equity investors.blank

Brokerage firm Advanced Equities  is reportedly leading the effort, acording to Dow Jones. Advanced has also raised funds for Bloom Energy, which plans  to construct a plant in Newark, Del.

Fisker needs money to build its mid-sized Atlantic plug-in hybrid, after the federal government pulled the plug on federal funding, at least temporarily. Fisker has not met federally set financial goals related to its one car in production, the Karma.

That luxury hybrid is being built in Finland.

The Atlantic was to have been built at the former GM plant west of Wilmington, but without federal  loan funding,  no work is taking place at the site.

Fisker says it can build the Atlantic elsewhere and opt for private funding, although that would push the timetable for producing the automobile well into the future.

This week, Fisker  hired a new CEO  and two other executives in what could be an effort to reassure the feds and investors that the company is on the right track.

Facebook Comments