Karma Automotive Expanding Retail Operations to 20 Countries
Luxury carmaker Karma Automotive is all set to launch its all-new Revero GT electric car and other offerings based on the Karma SC1 Vision concept very soon. To help market the upcoming electric car, the company has announced an aggressive expansion plan of its retail operations.
The California-based company, which is owned by Chinese automotive manufacturing company the Wanxiang Group, initially limited its operations to the North American market. In 2014, the Wanxiang Group purchased assets of Fisker Automotive for $149.2 million in a bankruptcy auction and reformed as Karma Automotive in Oct 2015.
Now the company announced it will be expanding its retail operations to 19 new countries on five continents, as well as to 13 new cities in the U.S. by 2020. Karma is considering countries in Europe, Asia, South America, North Africa, and the Middle East as potential markets.
So far, Karma Automotive has teamed with 18 retail partners in the U.S., Canada and Chile. Karma also said that it has plans to establish operations in China by 2021.
For its operations in North America, Karma is partnering up with luxury dealerships on the east and west coast to expand its presence in important metro markets.
The Karma SC1 Vision concept on display at the 2019 Shanghai Auto Show
As of now, the European market remains Karma's top priority and the company is in the process of developing a dedicated European-based operation to assist its expansion across the continent.
Karma has also fast-tracked the development of its European operations to facilitate the company's planned growth and presence across the continent. The expansion in Europe will also focus on promoting sales of the upcoming Revero GT plug-in-hybrid.
The backbone of Karma's expansion is the company's all-new global EV platform, which will be the foundation of Karma's future all-electric offerings. Karma's all-electric models based on the new platform are slated to make their debut in 2021.
Karma Automotive previewed its newly developed architecture with the SC1 Vision concept, which the company claims is an example of its technical ideology and its idea for the future of luxury electric vehicles. Karma's future models will capitalize on attractive designs and aesthetics.
The company claims that its new plan will provide it with a long-term sustainable foundation to facilitate the development of a wide range of new electric vehicles.
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