Fisker becomes Karma Automotive

Fisker Automotive has officially changed its name to Karma Automotive, the company announced today.

Their new logo is “clean, elegant and modern in its simplicity”, according to Karma.

The company said its new name is “relevant to both the old and new brands and [speaks to] the principle of cause and effect, where your actions create your future”.

Karma’s new executive team has attracted top-tier talent from the automotive and technology industries to bring world-class expertise to its headquarters and new assembly facility in Southern California. Wanxiang acquired Fisker’s assets for $149.2 million in a USA bankruptcy auction in 2014.

The City of Moreno Valley says the plant “will pay as much as $26 an hour for positions in the factory’s body shop as well as a few mechanical and quality-assurance positions”.

The name comes from the formerly defunct automaker’s only production model, which the company says it will relaunch in 2016 from its California factory.

Karma’s auto will several big players to contend with when it joins the EV market, such as Tesla’s new Model X sports utility vehicle, GM’s new Chevrolet Bolt and BMW’s upcoming hybrid version of its X5 SUV, Bloomberg reported. (Will it be called the Karma Karma?) The company, which was purchased by Chinese businessman Lu Guanqiu, may be shedding its namesake and ties with former founder, designer Henrik Fisker, in an effort to disassociate itself from the former car’s famous failing. “He’s in it for the long haul”, Taylor said.