Electric Vehicle

Karma Automotive raises $100 million, to strengthen EV platform

Karma Automotive has recently raised $100 million for its electric vehicle portfolio. Karma Automotive was earlier Fisker Automotive before being acquired by Wanxiang Group in 2014. Wanxiang is a Chinese component manufacturer in operation since 1969.

Karma Automotive would continue to sell its car- Revero, which retails starting at around US$140,000. It is in discussions with a partner for a commercial delivery truck, which Karma plans to develop a prototype by the end of 2020.

Karma also looks forward to expand beyond pure EVs to hybrid fuel vehicles.

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