A premium luxury sedan born from the ashes of the Fisker Karma – a Tesla rival that wowed the automotive world before collapsing into bankruptcy three years ago – will soon begin rolling off a production line at California’s newest car factory.
When it is up and running, the Karma Automotive factory in Moreno Valley will produce as many as 3,000 of the high-end Karma Reveros annually. The cars, again compteting with Tesla, will be four-door luxury electric sedans priced above $100,000.
Karma Automotive joins Tesla on a list of locally based car and bus manufacturers, including Faraday Future, BYD and Atieva that together are making California ground zero for the electric vehicle market.
Like those companies, Karma is backed by Chinese money. The bankrupt Karma’s assets were purchased in 2014 by Wanxiang Group, a Chinese auto parts giant that also owns A123, the battery company that produced power packs for the Fisker cars.