Irvine-based luxury hybrid auto developer Fisker Automotive Inc. has raised $40 million in additional investor funding, bringing its total in public and private money to more than $1 billion.
Fisker raised the money through a stock sale to Chicago-based Advanced Equity Financial Corp., according to a filing with the Securities and Exchange Commission.
The fundraising follows a $150 million round in February.
Between investor financing and government money, Fisker has raised more than $1 billion to develop luxury cars that run on rechargeable batteries with backup gas engines.
The company’s funding includes a $529 million Energy Department loan and $21.5 million in grants and loans from Delaware.
Earlier this year, Fisker bought the 3.2 million-square-foot Wilmington Assembly plant in Delaware for $20 million in General Motors Co.’s bankruptcy.
General Motors shut down production at the plant in 2009.
Fisker plans to spend $175 million to retool the plant and start production in late 2012 on the Nina, one of two cars it plans to produce.
The company’s first car, the Karma sedan, started production in late March at a European contract manufacturer.
