Karma

Karma is an American automaker of luxury electric cars. The company has produced several electric cars such as the Karma Revero (a luxury electric hybrid sedan based on the Fisker Karma) and the Pininfarina GT (a luxury electric hybrid coupe based on the Revero and the body designed by Pininfarina).

In February 2014, Chinese auto-parts supplier Wanxiang Group purchased assets of Fisker Automotive for $149.2 million in a bankruptcy auction. These assets included designs, a plug-in hybrid powertrain, and the former Wilmington Assembly factory in Wilmington, Delaware. Fisker Automotive was founded in 2007 by Henrik Fisker and his business partner Bernhard Koehler. Its Fisker Karma plug-in hybrid sports sedan debuted in 2011, and about 2,000 of the vehicles were sold. After Fisker's battery supplier A123 Systems filed for bankruptcy after two battery recalls, Fisker Automotive could not continue its business operations, and the company declared bankruptcy in February 2014 which led to the Wanxiang acquisition. The purchase excluded the Fisker brand and trademarks owned by Henrik Fisker. Wanxiang also purchased A123 Systems following its bankruptcy declaration.

In early 2016, Karma Automotive enlisted a straw buyer in an attempt to reverse engineer technology from a parts supplier and former employee.

In October 2016, the Wilmington, Delaware factory was put up for sale by Wanxiang Group.