FISKER AUTOMOTIVE SECURES ADDITIONAL FUNDING FOR PLUG-IN HYBRIDS by sofiaie

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									                                 FISKER AUTOMOTIVE SECURES ADDITIONAL FUNDING
                                 FOR PLUG-IN HYBRIDS

                                 IRVINE, CA – January 15, 2010: New American carmaker Fisker Automotive
                                 has secured access to an additional $115.3 million in private equity funding to
                                 develop plug-in hybrid cars.

                                 This funding is necessary for Fisker Automotive (www.fiskerautomotive.com) 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 raise comes at a time when capital is scarce, the auto industry is struggling and
                                 the global economy is just beginning to rebound.

                                 Starting at $87,900 the Karma paves the way for development of lower-cost plug-in
                                 hybrid technology for a second, family-oriented car code named Project NINA.
                                 Project NINA is expected to be built in Wilmington, Delaware at a former General
                                 Motors assembly plant starting in 2012.

                                 “Raising $115 million in these times speaks volumes about the value of our business
                                 model and the vast potential of plug-in hybrids,” said Henrik Fisker, CEO.

                                 Investors include A123 Systems, Ace Investments and Kleiner Perkins Caufield &
                                 Byers.

                                 Fisker Automotive earlier this week signed a multi-year supply agreement with A123
                                 Systems for the lithium-ion batteries that will power the Karma.

                                 “Fisker Automotive selected A123 because of the company’s ability to meet our
                                 performance needs and rapidly scale to our production volume,” said Fisker. “We
                                 are committed to developing environmentally friendly cars that don’t sacrifice style
                                 or performance. A123’s technology will ensure the Karma delivers.”

                                 Designed and engineered in the U.S., the four-door Karma proves eco-friendly cars
                                 can still have style and power. The Karma can reach 60mph in six seconds and top
                                 125mph, yet runs cleaner and more efficiently than today’s most popular hybrids.

                                 ABOUT FISKER AUTOMOTIVE, INC.
                                 Fisker Automotive is a privately owned, premium American car company with a
                                 vision to lead the automotive industry into the next-generation of automobiles with
NEWS                             high-end design expertise and eco-friendly powertrain technology. Global
                                 headquarters are in Irvine, California, USA.
Inquiries:   Russell Datz

Phone:       714-888-4255 x116   The company was created in 2007 to leverage the design capabilities of Fisker
Mobile:
Fax:
             917-678-8038
             714-888-4256
                                 Coachbuild, LLC, founded by auto design veterans Henrik Fisker and Bernhard
                                 Koehler, and the PHEV powertrain capabilities of Quantum Fuel Systems
rdatz@fiskerautomotive.com
                                 Technologies Worldwide, Inc. (NASDAQ-QTWW), a major Tier 1 supplier of clean
www.fiskerautomotive.com         vehicle technologies to the automotive OEMs. Previously, Fisker, CEO, was design
                                 director for Aston Martin and president and CEO of BMW’s DesignworksUSA.
                                 Koehler, COO, led operations for Ford’s Global Advanced Design Studio and
                                 created concept cars for Aston Martin, MINI and BMW. # # #

								
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