Karma Automotive expands presence despite potential bankruptcy

Karma Automotive expands presence despite potential bankruptcy

July 9, 2020 0 By autotimesnews

Karma Automotive has announced the expansion of its geographic presence in Germany, Austria and Switzerland, in addition to existing dealerships in the Netherlands, Sweden, France, Spain and Portugal.

The California-backed company, supported by China, recently appeared in the headlines because it was not doing well. Carscoops.com reported that the automaker was even considering filing for bankruptcy before the Wanxiang Group decided to give them another chance – and increase funding.

According to The Verge’s report, Karma Automotive received between $ 5 and $ 10 million in loans to pay salaries after several cuts over the past year.

Karma Automotive is a company created from the ashes of Fisker, which launched the original Fisker Karma back in 2012. The same car exists today in the form of Karma Revero, with an expanded lineup of hybrid powertrains with two electric engines and a 2.0-liter four-cylinder turbo engine. The total power of the power plant is 403 hp, and the cruising range exclusively on electric traction is 80 km.

Karma has already introduced the updated 2020 Revero GT, which features a revised design and a new hybrid powerplant with a combined power of 528 hp. and a 128-kilometer power reserve.

“We are currently in negotiations with a number of potential retail partners in Germany, as well as in Switzerland and Austria, who are able to meet growing consumer expectations along with Karma’s unique design and technology offerings,” said Roger Kroimans, vice Karma president of European sales and network development.

The company noted that the first model to be offered in Germany, Austria and Switzerland will be the original Revero, not the 2020 Revero GT. Moreover, cars will be shipped at a strictly specified quota.