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Wanxiang Plans Karma Plug-in Hybrid Factory in China
Wanxiang Group, which purchased the assets of bankrupt Fisker Automotive Inc. in 2014, hopes to make plug-in hybrids in China.
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Wanxiang Group, which purchased the assets of bankrupt Fisker Automotive Inc. in 2014, hopes to make plug-in hybrids in China.
The company’s relaunched Karma Automotive unit has applied for a permit to build a 2.5 billion-yuan ($375 million) factory in Hangzhou, Bloomberg News reports. The facility will have annual capacity to make 50,000 extended-range hybrids.
The vehicles will include variants of the $107,900 Karma hybrid sport sedan Fisker introduced in 2011. But the company intends to focus most of its output in China on a two-door production version of the Atlantic concept sedan Fisker unveiled in 2012, according to Bloomberg.
Fisker had once hoped to launch the Atlantic in 2013, but recalls and financial woes pushed the company into bankruptcy instead.
Separately, Costa Mesa, Calif.-based Karma Automotive says it plans to introduce its new Revero hybrid sport sedan in the U.S. and Canada later this year. The car, which is an updated version of the original Karma, will initially be offered through 10 dealers.
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