Karma Automotives aim to move its operations to the U.S. to bury its previous failures in Finland. Fisker Karma, the electric sedan was recently released with a new name, including numerous upgrades to compete with US competitors like Tesla Motors Inc.
The electric sedan’s new name will be Karma Revero, which was derived from the Latin words “re” and “vero,” meaning “truth,” the automaker said. As the company is aiming for big players and dwell in the Californian market, it has sent its vehicle to engage in rebranding.
It was reported that the automaker has been lately focusing on a luxury electric vehicle that it plans to start this summer. The vehicle is designed to be a modernized version, including a buoyant installations like new battery, electrical controls, and a battery charger.
The car is expected to have showrooms this year, as the company has moved its operations to California – Tesla’s home ground. Its smaller efficient cars were planned to enter into the mass market.
To actively compete with big EV rivals, Karma Automotive finds support from Wanxiang Group, its Chinese owners, which aid the company recover from bankruptcy as well as bought Fisker’s assets amounting $149 million. Wanxiang Group is the Chinese car parts firm that has been aiming to produce EVs in the previous years.
Subsequently, the emerging EV maker has a strong connection with its loyal clients and events were held with them, according to analysts. Among the 1.950 Fisker buyers, 80% of which still have these cars, and the company is still providing services.
The chief marketing officer of Karma said that the new Karma Revero model will comprise of EV control, including charging system that will be provided by German luxury automaker BMW, as a deal went successfully in the past year.
Meanwhile, the exterior of the vehicle will be unchanged, but the internals will involve several changes.
The company has not yet disclosed any price for the new Karma Revero. However, it is likely that it aims for a high-end markets, where Tesla plays a big role and more than 100,000 of its Model S sedan were highly sold.
Tesla came up with a slight design improvement on the Model S sedan with a face-lifted version, and price of the vehicle will be raised to add spark as the similar design was seen on EV for several years.
Will Karma Automotive Actively Compete?
As the Chinese-backed electric auto maker has moved its operations in California with its new name and improved vehicle, it is highly expected to succeed. The price range of its previous model costs more than $100,000, and the new model is anticipated to value much higher compared to its flopped models.
However, it is likely that people will actively spend their money for luxury EVs if guaranteed a better driving experience, compared to Tesla’s Model S P90D, and its Model X which costs more than $120,000. Consequently, only a few of automakers are able to compete with Tesla when it comes to performance.
If Karma Automotive will quickly bring the vehicle into the market, there is a higher possibility that it will have an edge against Tesla. As the company target to unleash its new model by the end of this year, the car maker will be ahead over other rivals.
EV Concepts In The US
Numbers of luxury automakers were producing their ideas on EV in the US and it includes NextEV, Atieva, and Faraday Future, in which their FFZero 1 model was already unveiled in January to compete with Tesla at an event.
An EV assembly plant worth $1 billion is planned to build at Nevada, near the giant lithium-ion battery plant of Tesla. It plans to reveal its first Tesla killer in 2017.