Karma Automotive

About Karma Automotive

Karma Automotive operates in the ultra-luxury electric vehicle sector, positioning itself as a producer of bespoke, high-performance cars. The company emerged in 2014 from the assets of the bankrupt Fisker Automotive, which was acquired by the Chinese conglomerate Wanxiang Group for approximately $149.2 million. This acquisition included vehicle designs and a powertrain but excluded the Fisker brand itself, which was retained by founder Henrik Fisker. Karma is headquartered in Irvine, California, with its manufacturing and customization center located in Moreno Valley, enabling design, engineering, and assembly in-house.

The company's business model primarily relies on the direct sale of its luxury vehicles to a niche market of environmentally conscious, high-net-worth individuals. Sales are conducted through a global dealership network spanning North America, Europe, South America, and the Middle East. Beyond vehicle sales, Karma generates revenue by offering customization services and has pivoted to a B2B strategy, licensing its electric vehicle platform and engineering services to other automakers. This diversification was supported by a $100 million funding round from outside investors in July 2020.

Karma's product lineup began with the Revero, a continuation of the original Fisker Karma design. This was followed by the Revero GT, a significant update featuring a new powertrain with a BMW-sourced 1.5-liter three-cylinder engine acting as a range extender for its dual electric motors. The Revero GT, named Green Car Journal's 2020 Luxury Green Car of the Year™, produces 536 horsepower and can accelerate from 0 to 60 mph in about 4.5 seconds. The company later introduced the GS-6 series, which included a similar extended-range hybrid and the brand's first all-electric vehicle, the GSe-6. Karma's future product roadmap is ambitious, featuring the all-electric Gyesera sedan and the Kaveya super-coupe, which boasts over 1,000 horsepower. The company is also developing software-defined vehicles in collaboration with Intel Automotive.