Karma
Cars | Brand
Karma Automotive is an automaker owned by Chinese automotive supply company Wanxiang Group. It is based in Irvine, California with manufacturing operations in Moreno Valley, California.
In February 2014, Chinese auto-parts supplier Wanxiang Group purchased assets of Fisker Automotive for $150 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.
Subject ID: 31783
MoreKarma Automotive is an automaker owned by Chinese automotive supply company Wanxiang Group. It is based in Irvine, California with manufacturing operations in Moreno Valley, California.
In February 2014, Chinese auto-parts supplier Wanxiang Group purchased assets of Fisker Automotive for $150 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.
Subject ID: 31783
Subject ID: 31783
