Luxury electric car company Karma is in talks with investment banks to help it go public, company officials told dot.LA.

Karma is hoping to ride the Tesla wave of success and capitalize on the soaring valuations of its competitors.

"We want to take advantage of the fact that the market is red hot right now, so we want to be fast," said Mikael Elley, chief of staff at Karma Automotive.

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Today:

  • LA Bars, Gyms and Salons Go Dark Again
  • Fisker set to go public with $2.9b valuation, EV SUV to roll out by 2022
  • Apple Allocates $400M to Affordable Housing in California
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Here are the latest updates on news affecting Los Angeles' startup and tech communities. Sign up for our newsletter and follow dot.LA on Twitter for more.

Today:

  • Tesla shares soar, Fisker rumored to go public, Karma gets $100m
  • Facebook issues crash TikTok, Pinterest, Spotify
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