Karma Automotive Announces Pricing For All-electric GSe-6

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Oct 16, 2020, 11:07 ET

Karma's first all-electric GSe-6 debuting in 2021
Suggested GSe-6 MSRP $79,900*
Reservation site created for pre-orders

IRVINE, Calif., Oct. 16, 2020 /PRNewswire/ -- Karma Automotive today announced the manufacturer's suggested retail pricing (MSRP) for its first all-electric GSe-6 vehicle will begin at $79,900*. The GSe-6 will include a new powertrain configuration and come standard with connected car capabilities, internet radio, 21-inch wheels and other vehicle enhancements. The MSRP is before all tax rebates and incentives.

Karma created a website at http://www.karmaautomotive.com/reserve to share additional spec information and facilitate pre-orders for the GSe-6. For a fully-refundable $100 deposit, interested individuals can reserve a place in line for the vehicle, which will be available for delivery in 2021. The GSe-6 sedan will retain the award-winning design of the Revero® GT, extending the brand's heritage and now featuring a price that will help introduce customers to the "new luxury" segment.

"We are pleased to announce that our first all-electric vehicle is now available for pre-order at a price point that is competitive with other vehicles in the space," said Joost de Vries, Karma's VP of global sales and customer experience. "We have been producing vehicles here in the U.S.A. for a while and the new all-electric GSe-6 was the next logical step in our progression as a company. We like to say we go 'beyond EV' and this vehicle -- combined with our existing extended range EV technology in the Revero® GT -- offers consumers a unique solution for their next vehicle purchase."

ABOUT KARMA AUTOMOTIVE

Karma Automotive, founded in 2014, is a southern California based producer of luxury electric vehicles. Headquartered in Irvine, California with an assembly plant located in Moreno Valley, Karma sells vehicles via its dealer network comprised of 36 locations in North America, Europe, South America and the Middle East. Karma's Innovation and Customization Center, which opened in 2019 offers world-class engineering, design, customization, and manufacturing services along with electrification platforms. Karma's flagship vehicle, the Revero® GT, Green Car Journal's 2020 Luxury Green Car of the Year™, is an electric vehicle powered by dual electric motors that embodies Karma's goal of offering leading technology with a luxury experience. Every Karma vehicle is created with unparalleled individual care and craftsmanship.

For more information, visit www.karmaautomotive.com , or www.karmanewsroom.com.

Karma Automotive Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include Karma Automotive's expectations. Forward-looking statements typically can be identified by the use of words such as "will," "expect," "believe," and similar terms. Although Karma believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the automotive industry, competition in certain markets, the volatility of battery prices, failure of customers to perform under contracts, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our electric vehicle projects. Karma Automotive undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause Karma's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect Karma Automotive's future results.

(*) Suggested MSRP (exclusive of taxes, fees and delivery charges)

SOURCE Karma Automotive