Karma Prices Its Electric Car at $80K to Compete With Tesla’s Model S
Rachel Uranga covers the intersection of business, technology and culture. She is a former Mexico-based market correspondent at Reuters and has worked for several Southern California news outlets, including the Los Angeles Business Journal and the Los Angeles Daily News. She has covered everything from IPOs to immigration. Uranga is a graduate of the Columbia School of Journalism and California State University Northridge. A Los Angeles native, she lives with her husband, son and their felines.
Luxury electric vehicle-maker Karma Automotive announced pricing for its first all-electric car will start at $79,900, as the company prepares to take on Tesla and break out in the burgeoning upscale electric vehicle market.
The car can be reserved for a fully-refundable $100 deposit on their website. The design for the Karma GSe Series sedan has yet to be released but the company said it would retain the low-slung sporty profile of the company's signature car, the Revero GT, with a powertrain configuration, 21-inch wheels and vegan leather interior standard. Karma said its range will be "north of 300 miles."
It's set to roll out next year as competition in the electric vehicle market heats up. Earlier this week, Silicon Valley-based Lucid announced their car, Lucid Air, is slated for 2021 and will start at $77,400. That prompted Tesla CEO Elon Musk to announce a price drop for the Model S.
Tesla has dominated the market but a slew of new electric vehicles are set to come on line that could challenge the carmaker's position. Karma told dot.LA earlier this year it is talks with investment banks to help it go public. The company sought to bring down prices so it can have a broader market appeal.
With production facilities in Moreno Valley, Karma is the only U.S.-based electric vehicle startup that is producing and selling vehicles other than Tesla. Last year it rolled out about 550 of its Revero GT, an ultra luxury electric vehicle that starts around $135,000.
- Karma Automotive Lays Off 60, Mostly in Irvine - dot.LA ›
- Karma Automotive Comes Up with $100M in New Funding - dot.LA ›
- Karma Automotive Details Plans to Go Public - dot.LA ›
Subscribe to our newsletter to catch every headline.
Despite — or in many cases because of — the raging pandemic, 2020 was a great year for many tech startups. It turned out to be an ideal time to be in the video game business, developing a streaming ecommerce platform for Gen Z, or helping restaurants with their online ordering.
But which companies in Southern California had the best year? That is highly subjective of course. But in an attempt to highlight who's hot, we asked dozens of the region's top VCs to weigh in.
We wanted to know what companies they wish they would have invested in if they could go back and do it all over again.
Hottest<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyNS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1OTQ3MjQ2OH0.JYCNMjYvosYa5SI7701CH_jMFbeFdMcRCChXt442cq0/img.png?width=980" id="4a086" class="rm-shortcode" data-rm-shortcode-id="f2f18f0bc4400a388e43736c560ff87f" data-rm-shortcode-name="rebelmouse-image" alt="PopShop Live logo" data-width="686" data-height="128" />
Boiling<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzIyOC9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY2MzI5MjYwMn0.h7Nq7GiwXTcg_7Io5WEXblFX0rWQHxn69RzluTh7n_Q/img.png?width=980" id="44eea" class="rm-shortcode" data-rm-shortcode-id="d02c4cad650c987721ff91ee939a5bf7" data-rm-shortcode-name="rebelmouse-image" alt="Scopely logo" data-width="361" data-height="93" />
Simmering<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzMxNi9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY1NjM4MjQ5Mn0.XSHQfru9tTpdeBqd_ecb--8DiZg_vdyOtF9ZV9zAG78/img.png?width=980" id="f1665" class="rm-shortcode" data-rm-shortcode-id="ccc0b78dd8ae8cda9bf95979e83506fd" data-rm-shortcode-name="rebelmouse-image" data-width="455" data-height="111" />
Warming Up<img lazy-loadable="true" data-runner-src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vYXNzZXRzLnJibC5tcy8yNDk5MzYwOS9vcmlnaW4ucG5nIiwiZXhwaXJlc19hdCI6MTY3MzQ1MzE4OX0.fS5XtGx4M-tqWecrth6NCHawGSg2aSkb-yR-cY3wbtU/img.png?width=980" id="c6334" class="rm-shortcode" data-rm-shortcode-id="aa7476f8a6216fed6b372d8a59876a6b" data-rm-shortcode-name="rebelmouse-image" data-width="600" data-height="600" />
- Los Angeles' Tech and Startup Scene is Growing. - dot.LA ›
- The dot.LA/ Pitchbook Top 50 LA Startups for 2020 Q2 - dot.LA ›
- dot.LA/Pitchbook 50 Hottest Los Angeles Companies - dot.LA ›
Los Angeles is home to around 5,000 startups, the majority of which are in their young, formative years.
Which of those thousands are poised for a breakout in 2021? We asked dozens of L.A.'s top VCs to weigh in. We wanted to know which companies they would have invested in if they could go back and do it all over again.
Boiling<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1EwRjdlRzlxY3JFd1lNVS12T2VTWng1NFd6VFdWUktaMFpyQSUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTEwMDImaD1jOGIyM2Y5YWNhNGNhNDY3NzZhNmUzNTU3MWI2YzAzNjcwOTU1Nzg0ODQxZDdiZGIyZjAxMzUxNjdkN2I5NWY2JnNpemU9OTgweCZjPTE2MDM4MjI5MTgiLCJleHBpcmVzX2F0IjoxNjY1MTY5NTcxfQ.iTVRhSe0UulUxSyMUZ4QA7_0njADdWe3QEJ28-xW6m0/img.jpg" id="a03b9" class="rm-shortcode" data-rm-shortcode-id="03faa4898896a9ce5be09d51dc104b73" alt="Pipe logo" />
Simmering<img lazy-loadable="true" src="https://assets.rebelmouse.io/eyJhbGciOiJIUzI1NiIsInR5cCI6IkpXVCJ9.eyJpbWFnZSI6Imh0dHBzOi8vbWVkaWEucmJsLm1zL2ltYWdlP3U9JTJGaW1hZ2VzJTNGcSUzRHRibiUzQUFOZDlHY1JlR3QzLWlHSmFtYVJnLXNwSXVYcDc5N0xOdnpTYWhYYVloQSUyNnVzcXAlM0RDQVUmaG89aHR0cHMlM0ElMkYlMkZlbmNyeXB0ZWQtdGJuMC5nc3RhdGljLmNvbSZzPTYwNiZoPWU3NzNhYTkwODZkNmE4OWQwMWU0ZjZkODk0ODU1ZWEyZDIzMmU3YTYyNzJjYTU3Mzk3MmI0NmQ0NjAxMDY3YzMmc2l6ZT05ODB4JmM9MjQ3NDg5MDE0MiIsImV4cGlyZXNfYXQiOjE2NzAzMzU0NjB9.iqCUfvVUI22AGAz-QYPiS7XFb26sw3mGaU8seorLqxQ/img.jpg" id="44f84" class="rm-shortcode" data-rm-shortcode-id="cbdc9b0cdf21d3873eef2a40647ae810" alt="Freck Beauty logo" />
- Meet 3 Early Stage Science Startups at First Look's Showcase - dot.LA ›
- What Early Stage Startups Should Be Thinking About COVID-19 ... ›