American carmaker Fisker Automotive recently secured an additional $115.3 million in private equity funding to develop plug-in hybrid cars. This funding is necessary to access a $528.7 million U.S. Department of Energy conditional loan that will, in part, help speed completion of the Fisker Karma, the company’s first plug-in hybrid.
The majority of the funds will go to Project NINA, in charge with the design, engineering and assembly of Fisker’s next generation of plug-in hybrids. The rest … (read more)