The carmaker's president says it has received billions worth of investment from China's Wanxiang Group
The new president of Karma Automotive has ambitions to grow the niche automaker into a brand that can rival the likes of McLaren and Aston Martin, and even Ferrari, but actually doing so will not be easy.
Karma’s sole production model, the plug-in hybrid Revero sedan, is little more than a rebadged Fisker Karma, but the company is already planning a host of new models. It has already previewed one of these models with the striking Kaveya concept unveiled last month and has also teased a third model, a sedan known as the Gyesera.
While recently speaking with Auto News, Karma president Marques McCammon revealed that he has been pushing the company’s team hard to develop a compelling line-up of vehicles, noting that when he joined the firm what he found “was a collection of pieces and projects that were kind of spread around the company.”
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“I felt like if we just aligned them in a different way, we could get a different outcome. I walked through that view with the team,” he added. “For the most part, everyone could see where we were going. When we put the pieces together, it made sense.”
Watch: Take A Tour Of The Karma Revero GT And The Company’s Design Studio
Karma intends on commencing production of the Kaveya in the fourth quarter of 2025, first selling it as a rear-wheel drive model before the range grows with an all-wheel drive version in the fourth quarter of 2026. The first of these models will deliver 536 hp while the other will pump out more than 1,000 hp. Launching before the Kaveya will be an updated version of the Revero set to land late next year.
In the first quarter of 2024, the firm will showcase the Gyesera in full, and in the third quarter, showcase its fourth vehicle. McCammon says the updated Revera will be priced around $125,000 to $150,000, the Gyesara will be priced between $175,000 and $200,000, and the Kaveya will start at around $300,000.
Karma Gyesera teaser
“My goal for the brand is to be commensurate with the likes of McLaren, Aston and, in a dream state, Ferrari,” McCammon said. “Five thousand-ish units annually would be a very, very solid business for us.”
While Karma has sold fewer than 1,000 vehicles over the last 10 years, McCammon says the firm has received “billions” in investment from its sole shareholder, China’s Wanxiang Group.
Marques McCammon with the Karma Kaveya