Company overview
Karma Automotive is a privately owned American electric vehicle company. It was formed in 2014 from the acquisition of assets formerly held by Fisker Automotive. Wanxiang Group purchased these assets in 2014, including designs and a powertrain from the defunct Fisker Automotive. The company began producing vehicles in 2016 with the Revero plug-in hybrid, and later introduced the Revero GT and GS Series. In 2021, Karma Automotive opened its Innovation and Customization Center. Leadership positions have changed since 2014, with Tom Corcoran, Liang Zhou, and Marques McCammon serving as CEO during that period. The company has experienced financial challenges, including layoffs in 2019 and 2020. Karma Automotive has pursued revenue generation through licensing its electric vehicle platform and a partnership with AYRO to produce electric delivery vehicles. As of 2023, the company is developing new models such as the Amaris and continues to explore potential partnerships.
