Karma Automotive Setting Up Office in Michigan

Karma Automotive is moving forward on its business plan for U.S. operations with an engineering and sales office in suburban Detroit.

The former Fisker Automotive, now owned by Chinese auto parts giant Wanxiang Group, is expected to spend $3.6 million and create up to 150 new jobs. The new office will be in Troy, Mich., according to the Michigan Economic Development Corp.

Moving into Troy is being supported by a $450,000 Michigan Business Development Program performance-based grant. The city of Troy is also providing marketing and promotional assistance.

SEE ALSO: Former Fisker Karma Gets New Name, To Start Selling This Year

Karma will be launching the Revero later this year. It will be an updated version of the Fisker Karma that was first sold in 2012.

The company changed its name last September from Fisker to Karma. Sales of the Fisker Karma plug-in hybrid came to a halt and the company filed for bankruptcy in 2013, before Wanxiang acquired it assets out of bankruptcy months later for $149.2 million.

Karma Automotive plans to assemble its next generation of vehicles at a 555,670-square-foot factory in Moreno Valley, Calif. The new assembly plant with tooling and equipment relocated from the Karma plant in Finland.

The company will begin taking orders for the revamped Revero with an unveiling planned in July or August, but with price and actual delivery date not divulged, according to Karma Automotive.

Automotive News