The electric car industry received a surge of competition with the announcement of Fisker rebranding itself as Karma Automotive and reviving the battle against Tesla Motors’ hold on the market.
The revitalized company is now operating under the same name as its flagship sedan and has plans to build a manufacturing facility in Moreno Valley, California, in order to resume car-building and business operations.
In an official statement from Karma Automotive, James Taylor, chief marketing officer, stated the new improvements are all about communicating change to their customers.
Prior to its financial issues in November 2013, Fisker was the No. 2 luxury electric car producer to Tesla with their sedan, Karma, and held a significant corner on the market.
After being bought out in 2014 by the Wanxiang Group, one of the world’s leading producers of automotive components, the operation to rebrand the company began.
The goal of this new image, facility and management team is to rid the company’s name of the negative connotation it acquired from past incidents, such as its lithium battery issues and a damaged shipment of Karmas that further hindered business.
“By rebranding, (Karma) wants to make a departure from their current positioning in the market and what they are currently known for,” said Dr. Natalie Winter, associate professor of marketing and marketing program director.
With the new image, Karma has also launched a new website, karmaautomotive.com, which features a short video detailing the company’s vision for its future in the industry, as it relates to its customers.
In the video, Karma conveys a message of how owning the car is more than just a status symbol, it is a desirable lifestyle that includes a luxury car.
The “Karma lifestyle” strays from “the standard routine, living with intention and waking up to answer the call” for a price of roughly $100,000.
“They are trying to create an asprirational brand, as in something people are trying to attain,” Winter said. “(The company’s concept) is bigger than the car, it is about how you live your life.”
Along with the new name and website, comes a new base of manufacturing, formerly housed overseas in Finland.
Karma plans on leasing a 555,670 square-foot facility at 17100 Perris Blvd and heading all further manufacturing operations from the warehouse and office space.
In recent years the luxury electric car market has seen exponential growth, especially considering the environmental benefits to switching from gasoline-fueled engines and Karma hopes to ride that market growth to success with their comeback.