
Irvine-based EV manufacturer Karma Automotive has always struggled to find an identity in an ever-changing automotive landscape. This is partly because of Karma's intricate and complex history. When Fisker Automotive and its battery supplier A123 Systems went bankrupt in the early half of the 2010s, Chinese automotive investment firm Wanxiang Group, swooped in and purchased the two for a hefty sum of $405.8 million over two years.