Karma Automotive and BMW have joined together under a new agreement, where BMW will supply some parts for Karma’s upcoming plug-in vehicle.

Karma Automotive is working to launch its first model late next year. The plug-in hybrid, tentatively named the Elux, is expected to emerge with high-end accoutrements and a price tag near $115,000. The partnership with BMW will help save Karma research and development expenses, as well as time in the pre-production phase.

Financial details of the agreement have not been released, but Karma did say that BMW will be supplying its “latest powertrain components, including high voltage battery charging systems and a wide range of hybrid and EV systems.”

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“Carmakers buy parts from other carmakers, especially in expensive areas like powertrain technology,” said Karma Chief Marketing Officer Jim Taylor. “As we launch the vehicle under the new name Karma, using BMW components will be a big help to the brand.”

The original Fisker Karma, built when the Fisker brand was under different management and ownership, was powered by a four-cylinder engine from General Motors. Though Karma hasn’t said where the powertrain from the Elux will come from, Taylor did mention that this first contract with BMW may lead to further agreements.

“Any chance we have to pick up where a reputable [auto maker] like BMW has left off with engineering, design and, of course, validation, is huge for us,” Taylor said. “The alignment you select with key partners is critical to building a new car company.”