Tuesday, May 13, 2008

Fisker Automotive Targets 2010 Production, Seeks Funding

Lake Forest-based Fisker Automotive and its partner Quantum Technologies said Tuesday that the firm is targeting full production of its hybrid Fisker Karma automobiles by the end of 2010. Fisker, which is venture backed by Kleiner Perkins Caufield & Byers and Palo Alto Investors, said it is gearing up to deliver its first vehicles by fourth quarter of 2009, with monthly production of its hybrid electric cars of 1,250 per month by the end of 2010. According to a recent CNET News.com report, the firm is in the midst of a Series C funding round worth $65M. Fisker is developing high end, electric sedans in Southern California; the firm is tapping Quantum Technologies, which is based in Irvine, for its electric powertrain.

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