KARMA AUTOMOTIVE CELEBRATES 10 YEARS OF INNOVATION
Introduction of KARMA 3rd Generation Revero to European Market
Hilversum, April 23, 2024 — Karma Automotive is marking its decade-long journey with a reflection on significant milestones, recent accomplishments, and a glimpse into the future for the Southern Californian EV manufacturer. During the spring of this year the eagerly awaited 3rd Generation Karma Revero is set to make its European debut, returning for the first time since 2020 at the Dutch headquarters of Kroymans Automotive, who represent Karma in Europe.
In March 2023, Marques McCammon assumed the presidency of Karma Automotive. At that time, the technology-focused manufacturer had been recognized for its innovative vehicle designs over nearly a decade yet had not fully realized its potential as an automotive and technology leader.
One year later, the ultra-luxury intelligent vehicle specialist has introduced the Kaveya super coupe GT (November 2023) as well as an updated version of its Revero (range extended) plug-in electric hybrid (December 2023). Karma has concurrently refined its brand narrative and set a clear vision for the future. The 3rd Generation Karma Revero is slated for introduction to selected European market in late June 2024, with further details to be disclosed closer to the launch date. Another nameplate, the Geyesera, is under development for release late 2025.
“We introduced the first vehicles of our portfolio – with more intros to come – and a definitive manufacturing and sales blueprint, including the initial offering of our third generation Revero in Europe later this year,” says McCammon. “We halted all vehicle production last May to put a clear focus on quality, we cut spending on programs that weren’t clearly aligned to drive the short- and long-term value of our enterprise, and we rallied the team around a vision to be a leader in the future ultra-luxury vehicle market.”
Marques McCammon: “Tremendous resources have been invested to make Karma into a company that has a positive impact in the world, our mission now is to make that vision a reality, creating a new kind of luxury experience for our customers.”
Additional Karma milestones during the past year include:
- Karma was named a 2023-2024 Great Place to Work.
- Started production of zero emission commercial vehicle powertrains.
- Completed the acquisition of IP and assets from Airbiquity, a software development/engineering company, which opens relationships with companies such as Toyota, Harley-Davidson and LiveWire.
“We have a new management team determined to be a beacon for corporate culture and collaboration. Our team will motivate, engage and ignite people to work together toward that mission,” says McCammon. “Karma’s success will be defined by our products and so much more.”
What does the future hold?
The post-Covid geo-political, economic and social headwinds confronting EV manufacturers are an industry-wide challenge. Some new players have fallen from the industry already and others may as well. Some larger OEMs are even moving their near-term focus from pure EV to a mix of BEV and Hybrid vehicle offerings. Karma was an early leader in Range Extended Electric Vehicles, so those market trends present Karma some unique opportunities.
“There certainly are challenges – the early adoption chasm has arrived for BEVs and in Europe where home charging is not always ubiquitous, even our very selective, luxury orient buyers can feel comfortable that our beautiful, highly performant vehicles deliver EV performance but with no real range limitation,” says McCammon. “Karma is not about the mass market. Only a select few will have the opportunity to own a Karma, when they do, that ownership will not carry a sense of compromise.”
“As we celebrated our 10th anniversary on March 28, I’m proud of the company’s resilience in reaching this milestone, but I remain laser focused on the future we are building. Bringing our brand back to the European markets that set the benchmark for ultra-luxury vehicles is a key step in our journey.”
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About Karma Automotive
Karma Automotive (www.karmaautomotive.com) is an ultra-luxury vehicle company that engineers, designs and manufactures its electric and range extended electric vehicles in Southern California. Headquartered in Irvine, with a production facility in Moreno Valley, Karma’s dealer network includes North America, Europe, South America and the Middle East.
2024 marks Karma’s 10th anniversary – a yearlong celebration that features the world debut of several vehicles, a renewed focus on the company’s mission to be an inspiration for a smarter, cleaner global future as well as the introduction of Karma’s new brand campaign.
Karma Europe Media contacts:
Eric Geers Dick Braakhekke
Eric@GBPRC.eu Dick@GBPRC.eu
+46-70 531 60 10 +31-65 112 44 45