Karma Details Sales Strategy For Revero Electric Car, New Factory

After filing bankruptcy, Chinese auto part producer Wangxiang Group purchased the assets of plug-in hybrid pioneer Fisker in 2014. Wangxiang renamed the company Karma Automotive, after the Fisker Karma plug-in EV, and is now planning to release their first-ever plug-in EV. They are also hoping to build a $375 million factory in China.

Wangxiang's application for the factory indicates that they plan to build cars off platforms that they have acquired from Fisker. These include chassis for the Karma and the Atlantic two-door sport coupe. Currently, Wangxiang only produces auto parts, but they hope to receive approval from the Chinese government so that they can expand into full car production.

The first vehicle that Karma plans to launch is the Revero, a sedan that shares many styling cues with the Fisker Karma. The car will be built at Karma's 550,000-square-foot  assembly plant in Monero Valley, California.

Customers will be able to pick up a Revero after they hit the market "later this year." Using the same approach as Tesla, Karma will create different "Experience Centers" which will have direct sales locations. But rather than open up their own chain of dealerships, Karma will piggyback on existing luxury car dealership networks. The Karma Revero will be offered at lots which stock brands like Lamborghini, Porsche, and McClaren. Participating dealerships will be located in Atlanta, Chicago, Ft. Worth, Miami, Palm Beach, Pasadena, Philadelphia, Detroit, Montreal, and Toronto.

The Revero is expected to carry a price tag around $100,000. It will likely be able to go around 33 miles on a charge and deliver around 400 horsepower, but more details will be announced during a big reveal planned for September 8. Karma expects to produce about 3,000 vehicles annually.