In the near future, Fisker Automotive will no longer be known by that name, as its parent Wanxiang Group plans to rebrand it as Elux, two sources privy with the plan told Reuters. Likewise, Wanxiang will push back the relaunch of the Fisker Karma until mid-2016, after hoping to revive the hybrid sports car this year. The sources said the revised Fisker Karma will be known as Elux Karma, with the Fisker to be dropped.
They added that the hybrid sports car will not be assembled in Finland as earlier planned, although Wanxiang has yet to decided on a final production site for the Karma. They disclosed that Wanxiang plans to price the ELux Karma from around $135,000, which means a nearly 20-percent premium over the final tag of the original Karma.
Fisker Automotive considered was an early rival of Tesla Motors Inc., but failed just six years following its launch in 2007 – despite support from the United States government and private investors. It was co-founded by Danish designer Henrik Fisker, who was responsible for the design of sports cars like the Aston Martin DB9 and the BMW Z8. He resurfaced last fall as the designer of a special limited edition of the Ford Mustang.
According to one of the sources, Elux Karma likely would be derived heavily from his original Karma design, although there remains the enigma of whether Wanxiang would revise the hybrid’s battery pack that was developed and supplied by A123 Systems, which went bankrupt and was eventually acquired by the Chinese auto parts suppliers. One of the sources disclosed that Wanxiang is investing "millions" to update the Karma hardware to make more competitive with newer vehicles.