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Fisker raises $50 million to bring its all-electric Ocean SUV to market in 2022

Electric vehicle startup Fisker Inc . said Wednesday it has raised $50 million, much needed capital that will go toward funding the next phase of engineering work on the company’s all-electric comfort SUV.

The startup is aiming to launch the Fisker Ocean SUV in 2022.

The Series C funding round was led by Moore Strategic Ventures LLC, the private financing vehicle of Louis M. Bacon, the billionaire hedge fund manager.

” Since we first evidenced the car at CES the beginning of this year, reaction from customers and investors has been extremely positive ,” Fisker Inc. Chairman and CEO Henrik Fisker said in a statement.” We are radically challenging the conventional industry concluding around developing and selling autoes and this asset will allow us to execute our strategy timeline to start producing vehicles in 2022.”

The company is also beefing up its exec lineup to help push the project along. Fisker said it has hired Burkhard Huhnke as its CTO. Huhnke was the onetime vice president of e-mobility for Volkswagen America and vice president of automotive at chipmaker Synopses.

As CTO, Huhnke will spread his time between the company’s R& D work in Los Angeles and its new Fisker Innovation Lab in Silicon Valley.

Building a auto busines isn’t easy. Only question Fisker. The well-known automotive designer, who was behind the Aston Martin V8 Vantage, Aston Martin DB9 and BMW Z8 amongst other, propelled a startup called Fisker Automotive that aimed to produce a comfort plug-in hybrid electric vehicles. The flagship vehicle, the Fisker Karma, debuted at the 2008 North American International Auto Show, and first bringings are available on 2011. But the company ran into innumerable challenges and production was suspended in November 2012 and ended in bankruptcy a year later.

China’s Wanxiang Group bought what was left of Fisker in 2014 and launched a new company announced Karma Automotive. On a feature indicate: Karma, which has had its own monetary skirmishes, too announced Wednesday it had raised $ 100 million.

This time around, Fisker is focused on an SUV. The Fisker Ocean, which was officially revealed in January at Ce 2020, starts at $ 37,499 before applying any federal income excise recognition or territory incentives.

Read more: feedproxy.google.com

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