New   KARMA   President   Marques   McCammon   Discusses   the   Path   that   Steered   Him   to   Lead   the   Ultra-Luxury   Auto   Company,   it’s   Current-Day   Potential   and   the   Future

The goal: make Karma a sustainable ultra-luxury electric car manufacturer that affects positive change in the world

For immediate release

Contact: Jeff Green (310) 291-1977 jgreen@karmaautomotive.com

IRVINE, CALIF., (May 25, 2023) — “I grew up in New York City and Virginia in the late ‘80s. Back then, my grandmother lived in Harlem. There were boarded-up storefronts and homeless people everywhere, so I would imagine buying up the street and creating housing for the needy.

“When I was 18 at North Carolina A&T, I wrote an entire business plan on an engineering pad that detailed how I was going to create a car company and hire people who couldn’t get jobs or didn’t have the proper education.

“I described that vision during my first automotive industry job interview with Chrysler. While working there as an engineer (and creating the Dodge SRT-4), I became part of the community, helping young people focus on science, engineering, tech and math.

“In the mid-2000s, I went to Silicon Valley and pitched every investment firm on Sandhill Road to fund my start-up car company. After three interviews with VC heavyweight Kleiner Perkins, they decided instead to fund Fisker Automotive … which went bankrupt in 2014 and was bought by Wanxiang Group. That company, now called Karma, hired me in April 2023. How’s that for good karma?”

TODAY

“The interview process with the Karma board took about six months. They didn’t want to hire a CEO. They wanted a person who understood Karma’s potential and would join as a ‘partner’. I explained how I had shaped my entire career for this job. Every job I’d taken was designed to give me the skills and experience to ultimately run a new auto company.

“The board wanted a cultural fit that’s deeper than just an operational resume. (Board) Chairman Lu said his father, a member of the Automotive Hall of Fame, had started Karma because he wanted his company to make the world a better place and have a positive impact on the planet.

“To me, that was so much bigger than somebody investing in a company solely for a return-on-investment.”

TOMORROW

“We must raise the brand equity for Karma by utilizing the company’s tremendous untapped human and financial potential. The diverse talent at Karma comes from different areas of the industry and will provide invaluable know-how and vision. This blends perfectly with my experiences at small and large OEMs and tier one suppliers, where I learned to maximize the full value of our assets.

“Since 2014. Karma has built some gorgeous, exotic cars that form the foundation for our future. The next phase is to create an iconic brand and a full-fledged automobile company. There is a unique space for a U.S. company with Southern California roots and employees that reflect the American dream.

“Over the years, Karma has shown four different concept vehicles, a period when the company has tried to figure out its true business plan. With all the time and effort that has been invested, the employees, shareholders and the market are desperate to see Karma show its worth. It can’t just be words. When we make a future promise, we have to stick to it, be authentic and build credibility.

“I expect Karma to become a car people recognize going down the road and dream about getting behind the wheel. Karma should become an aspirational purchase and lead transportation to a cleaner, greener future.

“Our rolling sculpture design and technology will remain core pillars as we boost production of fully electric vehicles in 2024 and reinvigorate the customer experience by doing fewer things, but doing them better. Once we narrow our scope, Karma will become a successful, sustainable ultra-luxury electric car manufacturer that affects positive change in the world.”

About Karma Automotive

Karma Automotive, founded in 2014, is a Southern California based producer of ultra-luxury electric vehicles. Headquartered in Irvine, Calif., with a production facility in Moreno Valley, Calif., and owned by $4 billion Chinese auto conglomerate Wanxiang America in Elgin, Ill., Karma sells vehicles via its dealer network in North America, Europe, South America and the Middle East. Karma’s Innovation and Customization Center, which opened in 2017, offers engineering, design, customization, and manufacturing services along with electrification platforms. Karma’s Revero® GT, Green Car Journal’s 2020 Luxury Green Car of the Year™, is an electric vehicle powered by dual electric motors. In 2021, Karma announced the GS-6 Series, which is also an extended-range series hybrid EV. Additionally, Karma provides commercial vehicle electrification and customized flexible manufacturing services for customers in the mobility space via ‘Powered by Karma.’