Karma Automotive

Last updated

Karma Automotive LLC
Company type Private
Industry Automotive
Predecessor Fisker Automotive
Founded2014
Headquarters Irvine, California
Key people
Marques McCammon (President)
Products
  • Karma Revero
  • Karma Revero GT
  • Karma GS-6
  • Karma Gyesera
  • Karma Kaveya
Owner Wanxiang Group
Number of employees
625 (2016) [1] [ needs update ]
Website karmaautomotive.com karmanewsroom.com

Karma Automotive is a privately owned American luxury electric vehicle company founded in 2014 and now owned by Chinese conglomerate Wanxiang Group. Headquartered in Irvine, California [2] with an assembly plant located in Moreno Valley, Karma sells vehicles via its dealer network of locations in North America, Europe, South America, and the Middle East. [3] [4] [5] [6]

Contents

History

In February 2014, Chinese auto-parts supplier Wanxiang Group purchased assets of Fisker Automotive for $149.2 million in a bankruptcy auction. These assets included designs, a plug-in hybrid powertrain, and the former Wilmington Assembly factory in Wilmington, Delaware. [1] [7] [8] Fisker Automotive was founded in 2007 by Henrik Fisker and his business partner Bernhard Koehler. [8] Its Fisker Karma plug-in hybrid sports sedan debuted in 2011, and about 2,000 of the vehicles were sold. [8] After Fisker's battery supplier A123 Systems filed for bankruptcy after two battery recalls, Fisker Automotive could not continue its business operations, and the company declared bankruptcy in February 2014, which led to the Wanxiang acquisition. [8] The purchase excluded the Fisker brand and trademarks owned by Henrik Fisker. [9] Wanxiang also purchased A123 Systems following its bankruptcy declaration. [10]

In early 2016, Karma Automotive enlisted a straw buyer in an attempt to reverse engineer technology from a parts supplier and former employee. [11]

In October 2016, the Wilmington, Delaware factory was put up for sale by Wanxiang Group. [12] [ needs update ]

The company began building the Revero in 2016 at its factory in Moreno Valley, California, with production set to begin in late 2016. [13] The Revero debuted on September 8, 2016. [14] Karma planned to manufacture 3,000 of the vehicles. [1] [7] [15] [ needs update ] Karma hopes to build close to 150 cars in 2018, and in the 200 to 300 range of cars in 2019 and beyond. [16] [ needs update ] On April 11, 2019, Karma Automotive issued a recall and stop-sale order on all Revero vehicles, due to a flaw in the roll over sensors which would disable the side-curtain airbags. [17] [ needs update ]

In 2019, the company opened the Karma's Innovation and Customization Center. [18] In conjunction with the opening, Karma announced a design and manufacturing partnership with electric vehicle company AYRO to build 20,000 electric delivery vehicles by 2023. Karma's Innovation and Customization Center has the ability to build the frames, chassis and bodies, integrate the powertrain and finish the cars in its robotic paint shop. [4]

In November 2019, Karma Automotive laid off 200 employees at its Irvine, California headquarters due to financial difficulty. [19] In February 2020, the company laid off an additional 60 employees. [20]

In July 2020, the company raised US$100 million from outside investors. Karma announced its intentions to license its electric vehicle platform to other automakers in order to generate more revenue. [21] [ needs update ]

In November 2020, Karma sued Lordstown Motors in a technology dispute. [22]

Models

Production models

Revero

The Revero is a luxury plug-in hybrid electric vehicle (PHEV). The sedan model was awarded Luxury Green Car of the Year by Green Car Journal in 2018. [23] The model's total cruising range is approximately 300 miles with combined electric and combustion engine power, while electric power alone provides an estimated 50 miles (80 km). [1] [7] [24] [15]

Revero GT

The Revero GT is a luxury plug-in hybrid electric vehicle (PHEV). The model was awarded the 2020 Luxury Green Car of the Year Award from Green Car Journal in 2020. [25] The GT model is differentiated from the standard Revero model by a launch control feature and increased acceleration (0 to 60 mph in approximately 4.5 seconds). [26] The model's total cruising range is approximately 360 miles (580 km) with combined electric and combustion engine power, and approximately 80 miles (130 km) with only electric power. [27] Karma plans to remake the Revero GT as its halo vehicle, upgrading the model with an all-wheel-drive powertrain said to offer in excess of 1,100 hp. [28]

GS Series

The GS Series is a new vehicle line introduced in 2021. The series includes the company's first battery-electric sedan. In addition, the company announced plans to reduce the prices of the GS line. [25]

GS-6
Karma GS-6 2022 Karma GS-6 in Sequoia Green (NYIAS 2022), front right.jpg
Karma GS-6

The GS-6 is a range-extended, plug-in hybrid vehicle capable of traveling up to 330 miles (530 km) with combined electric and combustion engine power. [28] The GS-6 has a 400-kw, two-motor propulsion system that outputs 536 hp and 550 lb-ft of torque. [29]

GSe-6

The GSe-6 is an all-electric vehicle, holding an 85-kWh battery pack that provides up to 230 miles (370 km) of range. A version with a 105-kWh pack & more than 300 miles (480 km) of range is in development. [28] The GS-6 has a 400-kw, two-motor propulsion system that outputs 536 hp and 550 lb-ft of torque. [29] This vehicle's development was canceled in 2023.

Concept cars

Karma GT by Pininfarina

Karma GT by Pininfarina Karma GT by Pininfarina1.jpg
Karma GT by Pininfarina

The Karma GT by Pininfarina is a range-extender luxury electric hybrid coupe, based on the 2020 Revero chassis with a body by Pininfarina. It was introduced at the 2019 Shanghai Auto Show. [30] [31]

SC1 Vision Concept

Karma Automotive SC1 Karma Automotive SC1.jpg
Karma Automotive SC1

The Karma SC1 Vision Concept is a roofless scissor-doored working fully electric sports car concept. It was introduced at the 2019 Shanghai Auto Show. [32]

SC2 Concept

Karma Automotive SC2 Karma Automotive SC2.jpg
Karma Automotive SC2

The Karma SC2 Concept is a scissor-doored working fully electric sports car concept. It was unveiled on the eve of the 2019 Los Angeles Auto Show. [33] It was named 2020's Concept Car of the Year by Robb Report in their "Best of Best" issue. [34]

See also

Related Research Articles

GT, Gt or G-T may refer to:

<span class="mw-page-title-main">Mitsubishi Outlander</span> Compact crossover SUV

The Mitsubishi Outlander is a compact crossover SUV manufactured by Japanese automaker Mitsubishi Motors since 2001. It was originally known as the Mitsubishi Airtrek when it was introduced in Japan.

<span class="mw-page-title-main">Plug-in hybrid</span> Hybrid vehicle whose battery may be externally charged

A plug-in hybrid electric vehicle (PHEV) or simply plug-in hybrid is a type of hybrid electric vehicle equipped with a rechargeable battery pack that can be directly replenished via a charging cable plugged into an external electric power source, in addition to charging internally by its on-board internal combustion engine-powered generator. While PHEVs are predominantly passenger cars, there are also plug-in hybrid variants of sports cars, commercial vehicles, vans, utility trucks, buses, trains, motorcycles, mopeds, military vehicles and boats.

<span class="mw-page-title-main">Wilmington Assembly</span>

Wilmington Assembly was a General Motors automobile factory in Wilmington, Delaware. The 3,200,000-square-foot (300,000 m2) factory opened in 1947, and produced cars for GM's Chevrolet, Pontiac, Saturn, Opel, Buick and Daewoo brands during its operation. GM closed the plant on July 28, 2009.

<span class="mw-page-title-main">LA Auto Show</span> Annual US auto show

The Los Angeles Auto Show, also known as the LA Auto Show, is an auto show held annually at the Los Angeles Convention Center in Los Angeles, California, United States. It is open to the public for ten days, filling 760,000 square feet (71,000 m2) of exhibit space. Since 2006 the event is held in November or December.

<span class="mw-page-title-main">A123 Systems</span> Electrochemical battery company

A123 Systems, LLC, a subsidiary of the Chinese Wanxiang Group Holdings, is a developer and manufacturer of lithium iron phosphate batteries and energy storage systems.

Beijing International Automotive Exhibition, Beijing Motor Show or Auto China is an auto show held biennially in Beijing, China since 1990.

<span class="mw-page-title-main">History of plug-in hybrids</span>

The history of plug-in hybrid electric vehicles (PHEVs) spans a little more than a century, but most of the significant commercial developments have taken place after 2002. The revival of interest in this automotive technology together with all-electric cars is due to advances in battery and power management technologies, and concerns about increasingly volatile oil prices and supply disruption, and also the need to reduce greenhouse gas emissions. Between 2003 and 2010 most PHEVs on the roads were conversions of production hybrid electric vehicles, and the most prominent PHEVs were aftermarket conversions of 2004 or later Toyota Prius, which have had plug-in charging and more lead–acid batteries added and their electric-only range extended.

<span class="mw-page-title-main">Henrik Fisker</span> Danish automobile designer

Henrik Fisker is a Danish automotive designer and entrepreneur based in Los Angeles, California, US. He is best known as the founder of Fisker Automotive and Fisker Inc, and as a designer of luxury cars. After working at BMW, Ford, and Aston Martin, Fisker founded Fisker Automotive in 2007. The company failed to meet production deadlines despite significant federal and private investment. Fisker resigned in 2013. The New York Times described the company as the "Solyndra of the electric car industry" and a "debacle". He is currently the CEO of Fisker Inc., which he co-founded with his wife in 2016; the company filed for bankruptcy in 2024.

<span class="mw-page-title-main">Fisker Automotive</span> Defunct American motor vehicle manufacturer

Fisker Automotive was an American automobile company. It produced the Fisker Karma, which was one of the world's first production luxury plug-in hybrid electric vehicles. The company was founded in 2007 by Henrik Fisker, a Danish automobile designer.

<span class="mw-page-title-main">Fisker Karma</span> Motor vehicle

The Fisker Karma is a luxury plug-in range-extended electric sports sedan produced by Fisker Automotive between 2011 and 2012. The cars were manufactured at Valmet Automotive in Finland.

<span class="mw-page-title-main">Auto Shanghai</span> Chinese biennial automobile show

Auto Shanghai, officially known as the Shanghai International Automobile Industry Exhibition, is a biennial international automobile show that alternates with the Beijing Auto Show as China's yearly international automotive exhibition. First held in 1985, Auto Shanghai is the nation's oldest auto exhibition, and is considered as an important major international auto show.

<span class="mw-page-title-main">Range extender</span> Fuel-based auxiliary power unit that extends the range of a battery electric vehicle

A range extender is a fuel-based auxiliary power unit (APU) that extends the range of a battery electric vehicle by driving an electric generator that charges the vehicle's battery. This arrangement is known as a series hybrid drivetrain. The most commonly used range extenders are internal combustion engines, but fuel-cells or other engine types can be used.

The Fisker Atlantic is a plug-in hybrid concept car first shown to the public at the New York International Auto Show in April 2012. Produced by the American car manufacturer Fisker Automotive, it was to be a smaller addition to the range to sit below the Fisker Karma.

<span class="mw-page-title-main">Wanxiang</span> Chinese company

Wanxiang Group Corporation is a Chinese multinational conglomerate, headquartered in Hangzhou, Zhejiang province, China. Its automotive components subsidiary is the largest China-based automotive components company measured by revenues. The company was founded in 1969 by Lu Guanqiu.

Carlo Bonzanigo is an Italian and Swiss car designer who has worked for many years for the famous Italian Design House Pininfarina and for Citroën Design.

<span class="mw-page-title-main">Karma Revero</span> Motor vehicle

The Karma Revero is a luxury plug-in hybrid sports sedan manufactured in the United States by Chinese-owned Karma Automotive. It is a revamped version of the Fisker Karma car. The first of the new production, for model year 2017, was released in September 2016.

Fisker Inc. is an American automotive company founded by Danish automotive designer Henrik Fisker and his wife Geeta Gupta-Fisker.

Automobili Pininfarina GmbH is a luxury electric vehicle (EV) manufacturer headquartered in Munich, Germany, with roots in the Italian car design firm and coachbuilder Pininfarina SpA. The company also has a design facility and office locations in Turin, Italy. Its first car, the Battista hypercar, has been produced from 2021. It was introduced at the Pebble Beach Concours d'Elegance 2018, and 150 units are planned for production.

<span class="mw-page-title-main">BYD Han</span> Full-size luxury sedan

The BYD Han is a full-size / executive sedan (E-segment) manufactured by the Chinese manufacturer BYD Auto since 2020, available in an battery electric variant and a plug-in hybrid (PHEV) variant. It is part of BYD's "Dynasty" series passenger vehicles, and gets its name from the Han Dynasty, the first golden age of Imperial China.

References

  1. 1 2 3 4 Kirsten Korosec, "Karma Automotive's Rapid Growth Prompts Move to a New Home," Fortune , August 26, 2016.
  2. ↑ "Karma Automotive moves into its new Irvine HQ, and it’s hiring," OC Register , October 26, 2017.
  3. ↑ "Karma Automotive cranks out $130,000 cars in Moreno Valley". June 5, 2017. Retrieved August 4, 2019.
  4. 1 2 Sebastian Blanco). "Karma Automotive Will Build 20,000 Electric Vehicles With Ayro By 2023". Forbes. Retrieved November 23, 2020.
  5. ↑ Manish Kharinta. "Karma Automotive Expanding Retail Operations to 20 Countries". FutureCar. Retrieved November 23, 2020.
  6. ↑ "Karma Automotive starts its EU expansion". FormaCar. Retrieved November 23, 2020.
  7. 1 2 3 Charles Fleming, "Karma comes around again: California's newest car factory aims to rival Tesla," Los Angeles Times , June 17, 2016.
  8. 1 2 3 4 Jim Gorzelany, "Specialty Carmaker Fisker Reborn As Karma Automotive," Forbes , September 30, 2015.
  9. ↑ Angela Greiling Keane, "Fisker to Sell Assets in Bankruptcy at $139 Million Loss," Bloomberg Businessweek , November 22, 2013.
  10. ↑ Michael Bathon, "Wanxiang Wins U.S. Approval to Buy Battery Maker A123," Bloomberg Businessweek, January 29, 2013.
  11. ↑ Torchinsky, Jason (August 11, 2017). "The Bewildering Story Of How Karma Funded A 'Spy Car' To Maybe Steal A Startup's Tech".
  12. ↑ Mordock, Jeff (October 20, 2016). "Officials see variety of uses for Fisker site". The News Journal. Wilmington, DE. Retrieved August 4, 2017.
  13. ↑ Benjamin Zhang, "Karma Revero EV: Pictures, details, specs 2018," Business Insider January 8, 2018.
  14. ↑ Darrell Etherington, "Karma Revero hybrid electric sports car revealed, complete with solar roof," TechCrunch, August 11, 2016.
  15. 1 2 "Karma Automotive Revero revealed," Fox News, August 11, 2016.
  16. ↑ Jon Wong, "2017 Karma Revero Release Date, Price and Specs - Roadshow," CNET September 5, 2017.
  17. ↑ Jake Holmes, "Karma Revero recalled because airbag rollover sensors were disabled" CNET April 22, 2019.
  18. ↑ Ireson, Nelson (April 16, 2019). "Inside Karma Automotive: How the Company Is Fusing Coachbuilding with High Tech". www.automobilemag.com. Automobile (magazine). Retrieved November 26, 2020.
  19. ↑ Ramsey, Jonathon. "Karma Automotive whistleblower paints a grim picture". www.autoblog.com. autoblog. Retrieved November 26, 2020.
  20. ↑ Korosec, Kirsten (February 12, 2020). "Karma Automotive to lay off 60 more workers at California headquarters". www.techcrunch.com. Techcrunch. Retrieved November 26, 2020.
  21. ↑ Etherington, Darrell (July 8, 2020). "Karma Automotive raises $100 million as it looks to resell it EV platform to other automakers". www.techcrunch.com. Techcrunch. Retrieved November 26, 2020.
  22. ↑ Lambert, Fred (November 20, 2020). "More drama in EV land: now Karma is suing Lordstown over theft of technology". Electrek .
  23. ↑ Ron Cogan. "Karma Revero: An Electric with Sensuous Style". Green Car Journal. Retrieved December 1, 2020.
  24. ↑ Mike Ramsey, "Karma Automotive Renames Updated Electric Car, Moves Production to U.S.," Wall Street Journal , April 25, 2016.
  25. 1 2 Joshua S. Hill (September 23, 2020). "Karma Automotive teases first all-electric luxury sedan". The Driven. Retrieved November 23, 2020.
  26. ↑ Mark Vaughn (June 26, 2019). "Here's what the Karma Revero GT prototype is like to drive". Autoweek. Retrieved November 23, 2020.
  27. ↑ Steven Ewing. "2020 Karma Revero GT first drive review: Third time's the charm". CNET. Retrieved November 23, 2020.
  28. 1 2 3 "Karma GS-6 First Look: PHEV Power Ranger". Motortrend. February 22, 2021.
  29. 1 2 Brian Wong (April 13, 2021). "First drive review: 2021 Karma GS-6 goes over the top on style and fun, comes up short on range". Green Car Reports.
  30. ↑ Anthony Kerr (April 16, 2019). "Karma Debuts Beautiful Pininfarina-Designed Electric Coupe". Motor 1.
  31. ↑ Vijay Pattni (April 16, 2019). "Check out Karma's new Pininfarina-designed GT car". Top Gear.
  32. ↑ Vijay Pattni (April 16, 2019). "Karma has built an electric scissor-doored hypercar". Top Gear.
  33. ↑ Cole, Craig (November 19, 2019). "Karma SC2 concept car has 1,100 hp". CNET . Retrieved January 2, 2020.
  34. ↑ "KARMA SC2 NAMED 'BEST OF THE BEST 2020: CONCEPT CAR'". The Speed Journal. June 27, 2020. Retrieved November 23, 2020.
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