Fisker Officially Reborn as Karma Automotive
The company formerly known as Fisker has been officially reborn as Karma Automotive.
The electric automaker now owned by Chinese billionaire Lu Guanqiu of Wanxiang Group Corp. has re-branded itself using the name of Fisker’s only production model, the Karma sedan. Karma Automotive is once again based in California with 300 employees and looks to change its fate after the previous company failed to pay back $139 million in U.S. government loans, leading to its bankruptcy.
SEE ALSO: Fisker Vows to Reboot Karma Production in California
The Karma vehicle will relaunch next year, but it will be in a market that’s much more crowded with electrified vehicles than when the Fisker Karma existed. Tesla recently debuted the new Model X, while Chevrolet has the next-generation Volt, and BMW has launched its i sub-brand models. Expect the production Karma to remain mostly unchanged in the styling department, as it continues to be a plug-in hybrid with more that 350 miles of range on a charge and a tank of gasoline. Its all-electric range will be around 50 miles, comparable to the new Volt that goes on sale in January.
According to Karma Automotive’s CEO Tom Corcoran, the automaker will continue developing the Atlantic, a model that was in the pipeline before Fisker went under. Eventually, it will move into a pure electric vehicle, directly competing with Tesla.
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Jason Siu began his career in automotive journalism in 2003 with Modified Magazine, a property previously held by VerticalScope. As the West Coast Editor, he played a pivotal role while also extending his expertise to Modified Luxury & Exotics and Modified Mustangs. Beyond his editorial work, Jason authored two notable Cartech books. His tenure at AutoGuide.com saw him immersed in the daily news cycle, yet his passion for hands-on evaluation led him to focus on testing and product reviews, offering well-rounded recommendations to AutoGuide readers. Currently, as the Content Director for VerticalScope, Jason spearheads the content strategy for an array of online publications, a role that has him at the helm of ensuring quality and consistency across the board.
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if Fister is rebranding into Karma Tesla should rebrand as Dogma