Fisker Receives Massive Investment To Fight Tesla

TheFisker Oceanis yet anotherall-electric crossoveraimed specifically at theTesla Model Yand also upcomingAudi Q4 Sportback e-tron. But like every automaker, having enough money on hand to ensure production is vital. Fortunately, Fisker has just announced an impressive $50 million investment from Moore Strategic Ventures, a private investment fund. This Series C financing round will supposedly provide sufficient cash to get the gorgeous Fisker Ocean to market for its planned 2022 launch.

"Since we first showed the car at CES earlier this year, reaction from customers and investors has been extremely positive," said Fisker chairman and CEO Henrik Fisker. "We are radically challenging the conventional industry thinking around developing and selling cars and this capital will allow us to execute our planned timeline to start producing vehicles in 2022."

The California-based startup was founded by Henrik Fisker whose previous gigs at BMW and Aston Martin made him famous in the automotive world. He later went on to launch his first small automaker, Fisker Automotive, which built the Fisker Karma. That company filed for bankruptcy in 2013 and its leftover assets were purchased by the Wanxiang Group, a Chinese auto parts builder, the following year. It is facing allegedlyserious financial issuesof its own at the moment.

In addition to the new investment, Fisker has added new members to its executive team. Former Volkswagen Group engineer Burkhard Huhnke has been appointed as chief technology officer. Simon Sproule is now a communications advisor to Fisker himself.