Fisker Automotive, Inc., an Irvine, CA-based carmaker, has secured access to an additional $115.3m in private equity funding to develop plug-in hybrid cars.
Investors include A123 Systems, Ace Investments and Kleiner Perkins Caufield & Byers.
This funding will enable Fisker Automotive to access a $528.7m U.S. Department of Energy conditional loan that will, in part, help speed completion of the company’s first plug-in hybrid, Fisker Karma.
Designed and engineered in the U.S., the four-door Karma can reach 60mph in six seconds and top 125mph.
The company earlier this week signed a multi-year supply agreement with A123 Systems for the lithium-ion batteries that will power the Karma.