Karma Automotive Prepares to Launch Renamed Hybrid
Karma Automotive LLC—the company created in 2014 from the assets of bankrupt hybrid supercar maker Fisker Automotive—hopes to revive production this year and begin selling an overhauled version of the Karma sport sedan called the Revero.
The Costa Mesa, Calif.-based company is owned by Chinese auto parts supplier Wanxiang Group, which operates 30 factories in the U.S. It has relocated tooling for the former $100,000 Karma car from Finland to southern California.
Karma Automotive tells The Wall Street Journal it intends to unveil the Revero in July or August.
The company opted to change the name of its car to disassociate itself with the trouble-prone original Karma. About 1,600 of those sedans are still on the road.
Karma Automotive tells the Journal the Revero will retain the look of the Karma on the outside but will feature an updated hybrid system that includes a new electric power and control system supplied by BMW AG. The company has not discussed pricing or sales targets.
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