Fisker Automotive went bust a few years back, but Wanxiang Group Corp came to the rescue in 2014 when it acquired the firm’s assets for $149.2 million. With plans to restart production, the new owners from China are building a 555,670 square-foot factory in L.A. where the updated Karma will be made under the “Revero” nameplate by the new company called “Karma Automotive.”
According to the Michigan Economic Development Corp, Karma Automotive will open an engineering and sales office in suburban Detroit following an investment of $3.6 million. It’s going to create as much as 150 jobs at the new office located in Troy, Michigan and the project is backed by the city of Troy which will help out with marketing and promotional campaigns. In addition, the new office will benefit from a Michigan Business Development Program performance-based grant worth $450,000.
While the old Finland-built Karma was plagued with numerous quality issues which ultimately caused the company’s demise, the updated Revero will address those problems. For this reason, Karma Automotive teamed up with BMW last November and Bavaria’s part of the deal will be to supply the car’s powertrain components and the necessary parts to recharge the battery.
An official reveal of the Revero is slated to take place next month or in August.