Fisker Automotive announced today that they reached a deal with A123 systems to supply batteries for their first hybrid plug in car, the Karma. They also agreed to invest up to $23 million in Fisker. The investment is $13 million in cash and $10 million in stock.
The company received a loan from the Department of Energy and as a part of that loan agreement they are required to raise $122.8 million to complete the deal.
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