Karma Prices Its Electric Car at $80K to Compete With Tesla’s Model S

Rachel Uranga

Rachel Uranga is dot.LA's Managing Editor, News. 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.

Karma Prices Its Electric Car at $80K to Compete With Tesla’s Model S

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.

https://twitter.com/racheluranga
rachel@dot.la

Subscribe to our newsletter to catch every headline.

Cadence

This Week in ‘Raises’: Improvado Hauls $22M, Clearlake Launches $14B Fund

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

Raises
Image by Joshua Letona

This week in “Raises”: A pair of Web3 platforms for gamers landed funding, as did a Manhattan Beach medical startup looking to bolster primary care via nurse practitioners. Meanwhile, a Santa Monica-based investment firm launched its seventh fund with more than $14 billion in dry powder.

Read more Show less

LA Tech ‘Moves’: New Head of Originals at Snap, New President at FaZe Clan

Kristin Snyder

Kristin Snyder is an editorial intern for dot.la. She previously interned with Tiger Oak Media and led the arts section for UCLA's Daily Bruin.

LA Tech ‘Moves’: New Head of Originals at Snap, New President at FaZe Clan
Photo by James Opas | Modified by Joshua Letona

“Moves”, our roundup of job changes in L.A. tech, is presented by Interchange.LA, dot.LA's recruiting and career platform connecting Southern California's most exciting companies with top tech talent. Create a free Interchange.LA profile here—and if you're looking for ways to supercharge your recruiting efforts, find out more about Interchange.LA's white-glove recruiting service by emailing Sharmineh O’Farrill Lewis (sharmineh@dot.la). Please send job changes and personnel moves to moves@dot.la.

Read more Show less
RELATEDEDITOR'S PICKS
LA TECH JOBS
interchangeLA
Trending