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Fisker Wants More Cash; Ford Spends More Money on Electric Cars

August 16, 2012

The green movement is everywhere! Even Hollywood actor Leonardo DiCaprio and pop singer Justin Bieber were instantly smitten when they saw the Fisker Karma, the first giant effort by Fisker Automotive Inc. The Karma is a plug-in hybrid powered by a pair of electric motors and a turbocharged 4-cylinder engine that achieves an EPA estimated 52 eMPG. Founder and chief designer Henrik Fisker knows how to make beautiful cars. In fact, his hands were responsible for the shape of the BMW Z8 and the Aston Martin DB9, two of the most iconic shapes that made it into production.

Fisker Seeks More Cash

Some might say that all is not well with the Fisker Karma, but it managed to deliver a driving experience that is unlike any other. Despite the steep $100,000 plus price tag, Fisker managed to sell 2,000 units of the Karma, but even this valiant effort was not enough to help the company develop their next exciting electric vehicle: the Fisker Atlantic.

Fisker wants at least $150 million more, and the company might seek more from their investors come 2013.

It should be remembered that Fisker was denied to more than half of the $529-million government loan earlier this year, and this was not what Fisker wanted in order to establish their long-term business plan--including the development of the all new Fisker Atlantic, a luxury sports sedan that is powered by Fisker's second-generation EVer technology.

The Karma was warmly received, but quality and fit and finish will need to be improved in order to justify the steep price tag.

The Fisker Karma is still offered in EcoStandard, EcoSport, and EcoChic trims, with base prices starting at around $96,000.

Ford Spends More on Green Electric Technology

Just when Fisker is looking for more cash, the Ford Motor Company is spending at least $135-million in improving their green electric technology.

Ford hired 60 engineers to increase their vehicle staff to 1,000, and this is for the development of electric vehicles alone. Ford is also planning to develop an in-house R & D facility to develop better batteries for their hybrid and electric vehicle models.

From less than 3% last year, Ford estimates that all-electric vehicles will account for more than 25% of their vehicle sales by the year 2020.

Ford launched an aggressive green vehicle campaign by introducing the Ford Transit Connect EV, the Ford Focus Electric, and the Ford C-Max Hybrid to local Ford dealers in the U.S.

The company is set to introduce the new Ford Fusion Hybrid and the Ford Fusion Energi by Fall 2012 and early 2013 respectively.

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