delay pushed the sale of it's Karma plug-in hybrid electric
vehicle (PHEV) from late 2009 to September 2010, another
delay is postponing the vehicle's production to February
2011 in order to secure $189
million in additional funding.
Fisker Karma PHEV made its first debut at the 2008 North
American International Auto Show as part of the premium
green car segment. Fisker Automotive took out a $528.7
million loan from the Department of Energy to start Project
NINA, which is a plug-in hybrid car that Fisker plans to build in
the United States starting in 2012, manufacturing approximately
75,000 to 100,000 per year.
back in January, Fisker secured $115 million in funds. Now with the
additional $189 million, the company has a total private equity
funding of around $339 million. Additional funding means design and
engineering goals for the Karma PHEV are now more obtainable.
the funds and extended time frame, Fisker plans to "trigger its
$528.7 million loan from the Department of Energy," and re-open
a General Motors plant in Wilmington, Delaware. Fisker will
eventually use this plant to develop hybrid electric vehicles under
the Project NINA program that are lower in cost. Fisker expects the
plant to create 2,000 new jobs and save or create another 5,000
release said Fisker "expects to manufacture the Karma
and Project NINA lnes" at their newly purchased GM plant, Russel
Datz, a Fisker spokesman, said "Only NINA for now. It's too soon
to say if next-gen Karma will also be built there."
intends to manufacture 75-100 Karma's for testing this year. The
company anticipates the Karma having a 50-mile all-electric range and
a full range of 350 miles, reaching 67.2
mpg. The Karma can reach 60 mph in 5.8 seconds and has a top
speed of 125 mph. It features a solar roof option for climate control
and recharging the battery pack.
vehicle will sell in the United States for $87,900.
quote: Yeah it's just a loan, but one-hundred eighty-nine million dollars of public money shouldn't be tied up for aid to this specific company in production of what appears to be a car with a very small, upper-class market.