• Home
  • Latest
  • Fortune 500
  • Finance
  • Tech
  • Leadership
  • Lifestyle
  • Rankings
  • Multimedia

Trendingnow

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026

1

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch

2

MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year

3

Current price of oil as of July 1, 2026
TechKarma Automotive

Karma Automotive’s Rapid Growth Prompts Move to a New Home

By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
By
Kirsten Korosec
Kirsten Korosec
Down Arrow Button Icon
August 26, 2016, 4:58 PM ET
Karma Revero
Karma Revero (PRNewsFoto/Karma Automotive)Courtesy of PR NEWSWIRE
Add Fortune on Google for similar content.

Karma Automotive, a rebooted version of the failed luxury electric car startup Fisker Automotive, is taking over more than 262,000 square feet of space once used by Kawasaki motorcycles and turning it into its own global headquarters.

The move to the massive facility in Irvine, Calif., which won’t begin until the fourth quarter of 2016, illustrates the company’s rapid growth since it was purchased in 2014 by Wanxiang Group.

Just three years ago, Fisker Automotive looked poised for the scrap heap. The company, which was founded by designer and entrepreneur Henrik Fisker in 2007, was out of money despite receiving $1.2 billion from public and private funds.

But Wanxiang Group, a Chinese conglomerate that makes automotive components, snapped up Fisker’s assets for $149.2 million in a bankruptcy auction in 2014. (Wanxiang is the same company that bought failed battery supplier A123 Systems.) Wanxiang moved the automaker’s production equipment from Finland to California and then rebooted the brand with a new name, car, and tech.

Get Data Sheet, Fortune’s technology newsletter.

Karma Automotive is now preparing to sell the Revero, an electric hybrid that will be built in a 555,670-square-foot factory in Moreno Valley, Calif. Earlier this month, the company revealed a teaser photo and a few details of the Revero, a sporty sedan with a solar roof and an updated drivetrain, electrical controls, and infotainment system. The official launch of the vehicle, and when the public can begin reserving it, is Sept. 8. The company has been building the Revero since April and has not said when it will deliver the cars. The electric hybrid vehicles are currently undergoing testing.

Just 14 months ago, the company had about 240 people working at its headquarters in Costa Mesa, less than 60 miles from its factory. At the time, a spokeswoman said the company expected to create 150 full-time manufacturing jobs at the factory.

These Two Companies Are Teaming Up to Build Self-Driving Cars:

Today, Karma Automotive has more than 625 employees who work at its factory and offices. About 125 people work at the Moreno Valley factory. The remaining 500 employees work in engineering, supplier quality, sales, and marketing at its offices in California and Michigan. Its Detroit office employs about 20 people with plans to reach close to 100 people.

“We’re busting at the seams here,” Karma’s chief marketing officer Jim Taylor told Fortune. “People were literally sitting in the halls before we rented a second facility about a block away.” Now that space is filling up.

The company wants to move to this larger facility in Irvine to accommodate existing staff and future growth, said Taylor. Karma Automotive will have more than 700 employees by the end of 2016 and is on target to approach 800 in 2017.

Parent company Wanxiang appears to have even bigger plans for Karma—beyond the 3,000 or so luxury Reveros it plans to make. Wanxiang filed an application for an environmental review for a $375 million factory in Hangzhou, China that could make as many as 50,000 electric cars per year, according to a Bloomberg report in August. The application indicates that most of those cars could be a cheaper electric vehicle called the Atlantic.

About the Author
By Kirsten Korosec
See full bioRight Arrow Button Icon
Add Fortune on Google for similar content.

Latest in Tech

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025

Most Popular

Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Finance
Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Ut enim ad minim veniam
By Fortune Editors
October 20, 2025
Fortune Secondary Logo
Rankings
  • 100 Best Companies
  • Fortune 500
  • Global 500
  • Fortune 500 Europe
  • Most Powerful Women
  • World's Most Admired Companies
  • See All Rankings
  • Lists Calendar
Sections
  • Finance
  • Fortune Crypto
  • Features
  • Leadership
  • Health
  • Commentary
  • Success
  • Retail
  • Mpw
  • Tech
  • Lifestyle
  • CEO Initiative
  • Asia
  • Politics
  • Conferences
  • Europe
  • Newsletters
  • Personal Finance
  • Environment
  • Magazine
  • Education
Customer Support
  • Frequently Asked Questions
  • Customer Service Portal
  • Privacy Policy
  • Terms Of Use
  • Single Issues For Purchase
  • International Print
Commercial Services
  • Advertising
  • Fortune Brand Studio
  • Fortune Analytics
  • Fortune Conferences
  • Business Development
  • Group Subscriptions
About Us
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • About Us
  • Press Center
  • Work At Fortune
  • Terms And Conditions
  • Site Map
  • Facebook icon
  • Twitter icon
  • LinkedIn icon
  • Instagram icon
  • Pinterest icon

Latest in Tech

Jason Lemkin
Successwork-life balance
This investor won’t back startups unless staff are in the office 6 days a week: ‘Not because I don’t have empathy, because they’re going to fail’
By Preston ForeJuly 2, 2026
1 hour ago
Trump stopped talking about these media stocks, but his portfolio didn’t stop trading them
InvestingDonald Trump
Trump stopped talking about these media stocks, but his portfolio didn’t stop trading them
By Mia OsmonbekovJuly 2, 2026
2 hours ago
m
CommentaryManufacturing
McKinsey chairs: Building a more resilient industrial base may require $2 trillion in investment
By Eric Kutcher and Shubham SinghalJuly 2, 2026
2 hours ago
Meta’s cloud compute reports: Why build AI data centers in a cornfield when Saudi Arabia has cheap oil and cheaper power?
Big TechMeta
Meta’s cloud compute reports: Why build AI data centers in a cornfield when Saudi Arabia has cheap oil and cheaper power?
By Catherina GioinoJuly 2, 2026
3 hours ago
Scott Bessent, US treasury secretary, during an Economic Club of New York (ECNY) event in New York, US, on Tuesday, June 23, 2026.
Economynational debt
Elon Musk says AI is the only way to fix the $40 trillion U.S. debt crisis—but a new study says even the most optimistic scenario won’t fill the hole
By Eleanor PringleJuly 2, 2026
5 hours ago
A test of Anduril's Altius drone.
NewslettersTerm Sheet
Defense tech could be entering its awkward teenage years. Is the boom a bubble?
By Allie GarfinkleJuly 2, 2026
6 hours ago

Most Popular

As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
Big Tech
As Big Tech showers employees with perks to win the talent war, Nvidia built a nearly $5 trillion company by making people pay for their own lunch
By Marco Quiroz-GutierrezJuly 1, 2026
1 day ago
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
Success
MacKenzie Scott alone accounted for one-third of America's $19.2 billion in megagifts last year
By Sydney LakeJune 25, 2026
7 days ago
Current price of oil as of July 1, 2026
Personal Finance
Current price of oil as of July 1, 2026
By Joseph HostetlerJuly 1, 2026
1 day ago
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
Politics
Trump got a $78K pension from the Screen Actors Guild in 2025 because he appeared in Home Alone 2 in 1992
By Sasha RogelbergJuly 1, 2026
24 hours ago
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
Success
Philanthropy leader at Warren Buffett and Bill Gates’ Giving Pledge says children of billionaires are pushing them to give their wealth away faster
By Preston ForeJune 27, 2026
5 days ago
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
Success
CEO of $248 billion cybersecurity company says workers are about to face a ‘Darwinian moment’ thanks to AI: Evolve or get cut
By Emma BurleighJuly 1, 2026
1 day ago

© 2026 Fortune Media IP Limited. All Rights Reserved. Use of this site constitutes acceptance of our Terms of Use and Privacy Policy | CA Notice at Collection and Privacy Notice | Do Not Sell/Share My Personal Information
FORTUNE is a trademark of Fortune Media IP Limited, registered in the U.S. and other countries. FORTUNE may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.