KARMA NEWS UPDATES FOR 2017

Karma Automotive Delivery Day (PRNewsfoto/Karma Automotive)

Karma Automotive Plant Launches Revero

Vehicles Arriving in Showrooms This Week

COSTA MESA, Calif., May 15, 2017 /PRNewswire/ — Karma Automotive announced today that the Revero launch has officially started. The first Revero automobiles were loaded onto transport trucks Friday at Karma’s Moreno Valley production facility destined for delivery to Karma retailer showrooms.  More than 800 Karma Automotive employees participated in a private “Delivery Day” ceremony celebrating the milestone.

“Karma has moved from a product development company to an automotive manufacturer,” said Jim Taylor, Chief Revenue Officer.  “We have completed the critical steps to become a true luxury vehicle OEM. The launch is a great accomplishment for our Company and all our team members.”

NEW KARMA AUTOMOTIVE GLOBAL HEADQUARTERS (PRNewsfoto/Karma Automotive)

Karma Automotive Completes Acquisition of New Global Headquarters

Facility Acquisition a Major Milestone for California OEM

COSTA MESA, Calif., April 13, 2017 /PRNewswire/ — Karma Automotive announced today details regarding its new global headquarters at 9950 Jeronimo Road in Irvine, CA. The 260,000-square-foot building will initially house 600 employees.

Karma Automotive purchased the 17.5 acre property for $56.25 million from Bixby Land Company with a planned initial occupancy of July 1, 2017. The facility will house the Company’s executive offices, design center, engineering team, research and development, test laboratories, operations and administrative staff.

“It’s important for Karma to have a headquarters that reflects the brand for our employees, business partners, and customers, and will provide an environment that attracts new talent as we continue to grow,” said Cameron Adamson, Chief Financial Officer. “Our new headquarters represents a huge milestone.  This investment in addition to the Moreno Valley production plant reinforces Karma’s commitment to being a true California car company.”

 



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