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.