Karma Automotive Underlines Commitment To New Product Development In California With Multi-Million Dollar Investment In Company's Future

-KARMA INVESTS NEARLY $7.5M FOR NEW TEST LABS

- OFFERS GLIMPSE OF ALL-NEW 2020 LUXURY ELECTRIC REVERO

- KARMA EMPLOYEES CELEBRATE FIVE-YEAR ANNIVERSARY

IRVINE,California,March 15,2019 --Southern California-based automaker Karma Automotive celebrated its five-year anniversary by continuing major investments in its U.S. operations and by sharing a glimpse of an all-new 2020 Revero luxury-electric vehicle.

New Powertrain Test Labs Installed at Karma's Global Headquarters

Karma's latest investment of nearly $7.5M resulted in the installation of a new suite of state-of-the-art powertrain test labs at the company's global headquarters in Irvine,Calif. The new equipment strengthens Karma's in-house engineering capabilities as the automaker readies for a period of rapid new product introductions.

KARMA OFFERS GLIMPSE OF ALL-NEW 2020 LUXURY ELECTRIC REVERO

The company's powertrain engineers will use the labs as a testbed for a variety of product-development activities including evaluating the performance and durability of electric motors,generators,and range-extended powertrains. These new in-house resources strengthen Karma's product development process by allowing it to move faster while reducing engineering costs since it won't have to use or rely on outside labs for this type of work.

The new equipment includes a traction dynamometer,electric motor dynamometer,and an engine/generator test cell used to evaluate powertrain optimization. As part of a continued employment drive across the company,the Karma Powertrain Engineering department will support the new dynamometer labs with additional resources and will be fully operational by mid-year. Karma's Powertrain Lab could eventually grow to become a new profit center for the company given the high demand among various industries for this kind of state-of-the-art testing facility.

"These new capabilities will help Karma speed up our product development process,lead to better performance and durability and protect the intellectual property that's critical to our success," Zhou said. "This investment shows our commitment to implementing Karma's vision of becoming a luxury automaker driven by technology and innovation."

All-New 2020 Karma Revero

Karma today also released a glimpse of its all-new next generation luxury electric Revero,available for sale or lease during the second half of this year. The new 2020 Revero promises to be faster,smarter,and even more stunning in design than its predecessor.

The all-new Revero,along with Karma's Pininfarina-designed concept car and its all-electric Vision concept,will form the automaker's "Shanghai Big Three" product announcement at Auto Shanghai 2019. Taken together Karma's Shanghai Big Three products shows the automaker's short,medium and long-term vision.

"Karma is a luxury car company,born in California,that's driven by exclusive design and craftsmanship,advanced technology,customization and delivering only the very best customer experience," said Karma CEO Dr. Lance Zhou. "We now have a vision and roadmap for the company that's building strong momentum and I can confidently say our best days are ahead of us."

Karma Celebrates Fifth Anniversary

The announcement arrived in time for the nearly 1,000 Karma employees to celebrate the company's fifth birthday. The automaker's story,and that of its Revero,started in 2014 when Wanxiang Group,one of China's largest multinational automotive components manufacturing companies,founded the Karma Automotive business.

"We have a solid product plan that spans the next decade and relationships with the right partners who are helping us accelerate technology and product development," said Zhou. "Since 2014,Karma has been quietly building a full value chain and planning a strong relaunch; now,we are ready to tell everyone: Karma is back!"

Meet Karma Automotive and Karma Revero

Karma Automotive designs,engineers,assembles and markets luxury electric vehicles,all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide,Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year,Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design,technology,customization and an outstanding customer experience.

Learn more about Karma Automotive and Revero atwww.karmaautomotive.comor visit the password-free Karma Newsroom atwww.karmanewsroom.comfor the latest press releases,videos and images.

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