US automaker Fisker Automotive is planning to raise nearly $150m in additional funds to prior to its second model launch.
Earlier, the automaker raised nearly $1bn in private financing since the beginning of its operations in 2007, but the US government had rejected its plea for a $529m loan.
Fisker Automotive director Ray Lane said the company needs money on its balance sheet to fund operating expenses.
"And we need money to fund the development of the next car," Lane said.
Initially, the automaker had planned to replace loan from the government with high-yield debt plus equity, but deferred that plan to simply raise more equity.
Fisker Automotive also said that once the company breaks even, it could file an initial public offering or a sale to a strategic investor, which is expected by late 2013.
