Fisker Automotive announced today a name change to Karma Automotive, as well as a new logo (see above). The company was named after its co-founder and famed car designer, Henrik Fisker. Fisker resigned from the company during financial difficulties in 2013. The company filed for bankruptcy soon after. Then the Wanxiang Group, a Chinese auto parts conglomerate, bought the company’s assets out of bankruptcy for $149 million. They also picked up A123, a battery maker who at the time was supplying Fisker with battery packs before both companies went under.

Wanxiang has since been trying to relaunch the company and especially its flagship electric sedan, the Karma, hence the new name of the organisation.

It’s not entirely clear, but Henrik Fisker doesn’t seem to be involved with the company anymore, which might have prompt the name change. Although, Fisker said that “20 of the original designers” of the Karma are back with the company, without specifying if he is one of the 20.

James Taylor, Karma’s Chief Marketing Officer, on the announcement:

“With new ownership, a new management team, and a new production site, all here in California, it was time to communicate change.”Karma” was chosen because it is relevant to both the old and new brands, while providing an aspirational message which embodies the company’s purpose. Karma is based on the principle of cause and effect, where your actions create your future. This awareness of what we are doing and why we are doing it—which we characterize as acting with intention—is what we stand for, it’s authentic,”

Karma Automotive, then still Fisker, recently leased a 556,000-square-foot industrial building in Riverside County to create a manufacturing facility for the relaunch of the new Karma. The company is believed to have strong financial backing from the Wanxiang Group and it plans to take orders for the new Karma as soon as next year.

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