A Chinese auto parts company is reported to be ready to resurrect the bankrupt luxury electric car "Karma" which originally sold for $100,000 U.S.
The company plans to use the name "Revero" and will use electronics and technology licensed from BMW, according to a report in the Wall Street Journal. No word on the new price for the styling electric car yet, which will be offered by Wanxiang Group.
The car will be produced in California where electric vehicle development is centred.
"There are huge, serious, major upgrades throughout the electronics systems, wiring, charging, battery," Karma's chief marketing officer Jim Taylor says. In terms of looks, though, it doesn't sound like you should expect anything to change in that department because the overhauls aren't going to be visible, according to Taylor who was asked for his reaction by media outlets.
Wanxiang acquired Fisker for $149 million a few years back following its bankruptcy.