Karma Automotive Conducts RestructuringOctober 29, 2019
The reorganization startup Karma Automotive seeks to start making a profit by selling its engineering, design and manufacturing solutions.
At Karma in California, 1,000 cars are manually assembled annually, and the production volume of the Revero GT hybrid sedan will range between 500 – 1000 units per year.
The new company plan under the name “4 + 1” involves the sale of excess productivity and its experience in creating products to other companies. According to Karma spokesman Dave Bartmuss, the company is ready to produce cars of a different automobile concern at its own enterprise.
As a result of the restructuring in Karma, administrative shifts occurred. So, Bob Cruze, an ex-GM engineer who played a major role in the creation of the Chevrolet Volt, left the post of chief technologist at the company. One of the chief executives at VLF Automotive in Detroit, Gilbert Villarreal, took over as Karma’s chief operating officer.
With Cruz, Karma upgraded and rebuilt the Fisker Karma by changing the name of the sedan to the Revero GT and installing a BMW engine in place of the GM engine.
It should be emphasized that Karma is the property of the Wanxiang Group, which is one of the largest suppliers of automotive parts in China. According to experts, Wanxiang is going to reduce the amount of money invested in Karma from 400 million a year to $ 100 million.
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