Fisker Automotive Raises $392M
Fisker Automotive, the VC-funded extended-range electric vehicle maker, has crossed the $1 billion mark in investment. The struggling plug-in hybrid automaker has raised $392 million in a financing round that’s aiming for $500 million in new investment, according to a filing with the Securities and Exchange Commission. That’s $129 million in new investment since February, when Fisker said it had raised $263 million of a planned $300 million round.
The new investment from Advanced Equities comes amidst a set of struggles for the startup, including two recalls and news of stalled production of its high-end Karma plug-in hybrid sports car. It also comes amidst news of trouble for Advanced Equities — co-founders Keith Daubenspeck and Dwight Badger may face federal enforcement action related to a 2009 private offering, according to Crain’s Chicago Business.
The company has had its share of challenges of late, including:
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