“Taken together, Karma’s Shanghai Big Three represents our transformation from an old-value car manufacturer to a company building long-term value in part by becoming an open-platform luxury high-tech automotive incubator,” Karma CEO Lance Zhou said in a statement.
Karma Automotive, headquartered in Irvine, Calif., was founded after the demise of Fisker Automotive, created by noted designer Henrik Fisker. The company’s sole product was the gasoline-electric Fisker Karma luxury car. Chinese supplier Wanxiang Group bought Fisker Automotive in a bankruptcy auction and put a revised version of the Karma back into production as the Revero in 2016.