Karma

Karma Automotive was founded in 2014 following the acquisition of assets from the bankrupt Fisker Automotive by the Chinese conglomerate Wanxiang Group for approximately $149.2 million. While the acquisition included vehicle designs and powertrain technology, it did not include the Fisker brand name, leading to the formation of the new entity. The company established its headquarters in Irvine, California, and opened its Innovation and Customization Center in Moreno Valley in 2017 to handle engineering and manufacturing. In its early years, the company focused on refining the design of the original Fisker Karma, eventually launching the Revero as its flagship model. The company has since expanded its portfolio to include the GS-6 series and has moved toward developing all-electric platforms. Throughout its history, Karma has navigated various management shifts and financial challenges, including a significant brand 're-launch' in 2024 to mark its 10th anniversary. Under recent leadership, Karma has pivoted toward a business-to-business strategy, leveraging its proprietary software and electrification expertise. This includes the 2024 acquisition of assets from Airbiquity to bolster its connected vehicle services and the launch of 'Karma Connect,' a platform designed to provide data management and over-the-air services to other OEMs and Tier 1 suppliers.