It doesn’t mean Karma’s dead, it means they might try again.
Only two months ago, Karma introduced the E-Flex platform.
Apparently, things were already quite off before the new platform reveal.
The story of the Fisker Karma and Karma Automotive is a complex one that involves fires, a lawsuit, a buy-out, and now, fake prototypes, lay-offs, bad management, and more. It’s really quite a shame however as the Karma, the Fisker Karma, and the Karma Revero, were very attractive, unique, and novel cars. Apparently, it might all come to an end soon.
Jalopnik has been on Karma Automotive’s case for a few months, citing that sources had told them about potential cuts in the workforce, poor management, and doctored concepts and technologies. That didn’t go over well with Karma but it appears as though the Source and media were right about many things.
Shortly after the story appeared last April, less than a week after we reported on the new E-Flex platform and its potential for more new vehicles, some management members were either fired or left, and in succession. Roughly 15 were furloughed in mid-May and now the plan looks to be to keep 38 employees on board while Karma Automotive files for Chapter 11 bankruptcy.
The upsetting aspect of the story is that the new platform and signs of progress were fake and done to keep investments from the Wanxiang Group, their Chinese investors, coming. Will they re-organize and restructure or is this the end of the Karma and Karma?