Report – China’s Wanxiang could morph Fisker into Elux image

Chinese auto parts maker Wanxiang Group became famous recently for acquiring the bankrupt assets of electric car startup Fisker Automotive. Now, the company plans to reintroduce the latter in a bid to gain access to the US luxury auto market.

According to the latest report from Reuters, though, it appears the latest effort to relaunch the axed brand has encountered a small setback: the Fisker Karma hybrid sports car would not reappear on the market until mid-2016 and the parent company has also decided to rebrand Fisker Automotive as Elux. The sources that have knowledge of the matter pointed out that after Wanxiang purchased the remainder of California-based Fisker Automotive last year through a US bankruptcy auction had initially set the revival date for the Karma this year. The persons, which opted not to share their identity because they are not allowed to discuss internal matters, said the updated version of the plug-in hybrid model would be rechristened as the Elux Karma, with the Fisker name to be axed.

The report further states that the planned revival of the gasoline-electric car would also skip Finland assembly – as per the earlier strategy to keep the old production location in place. The sources further added that Wanxiang has not yet decided on the upcoming car’s production location either. The Chinese parent now plans to market the new version from about $135,000, said the people, which would be around 20% more than the original Karma charged back in 2012 – its last year of production.

Via Reuters