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 design, a plug-in hybrid powertrain, and a manufacturing facility in Delaware. Karma Automotive was formed in October 2015. The purchase excluded the Fisker brand and trademarks owned by Henrik Fisker. In 2007, Fisker Automotive was founded by Henrik Fisker and his business partner Bernhard Koehler. Its Fisker Karma plug-in hybrid sports sedan debuted in 2011, and about 2,000 of the vehicles were sold. After Fisker's battery supplier A123 Systems filed for bankruptcy after two battery recalls, Fisker Automotive could not continue making vehicles, and the company declared bankruptcy in February 2014. Wanxiang also purchased A123 following its bankruptcy declaration. In early 2016, Karma Automotive enlisted a straw buyer in an attempt to reverse engineer technology from a parts supplier and former employee.
Models
Production models
Revero
The Revero is a luxury electric hybrid sedan based on the Fisker Karma, maintaining much of the original exterior and interior of the Fisker Karma, incorporating an A123 battery, charger and electrical controls. Karma CRO Jim Taylor stated that this was intentional, as the company believes the original Fisker Karma still holds much appeal for consumers. The company began building the Revero in 2016 at its factory in Moreno Valley, California, with production set to begin in late 2016 or early 2017. The Revero debuted on September 8, 2016. Karma plans to manufacture 3,000 of the vehicles. Exclusivity is clearly another part of the Revero story with Karma's hopes to build close to 150 cars in 2018, and in the 200 to 300 range of cars in 2019. 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.
The Karma Pininfarina GT 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.
Concept cars
SC1 Vision
The Karma SC1 Vision is a roofless scissor-doored working fully electric sports car concept. It was introduced at the 2019 Shanghai Auto Show.
SC2 Concept
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.
