It appears that an automotive giant is about to be unleashed. Electric car manufacturer Karma has recently announced its plans for the two territories, China and the US. Formerly Fisker Automotive, Karma Automotive has now been taken over by the Chinese auto parts manufacturing company Wanxiang Group, who are keen to take the company forward.
The company has recently made public its distribution plans for the US sales. The sales will be carried out through the independent dealers as well as the company owned showrooms. These showrooms have been dubbed as the brand experience centres, but the locations have not been revealed.
Furthermore, Bloomberg has reported that the Wanxiang Group is currently in the process of seeking environmental impact assessment review approval from the Chinese government for a new manufacturing facility Hangzhou, in China’s Zhejiang province at an estimated cost of $375 million. The automotive plant will be manufacturing the new Revero and the Atlantic sedan. The approximate production of the Plant will be 50,000 vehicles out of which 39,000 are expected to be the Atlantic. All the manufactured units are ultimately intended for the Chinese market.
This plan is an attempt to benefit from incentives offered by the Chinese government to the new entrants in the electric car market with an aim of increasing the number of electric car numbers by a multiple of 10 over the next decade. Having prior experience of product development as well as manufacturing, Wanxiang Group is a strong contender to get the license.