Karma Automotive Completes Acquisition of New Global Headquarters

Facility Acquisition a Major Milestone for California OEM

News provided by

Apr 13, 2017, 13:00 ET

COSTA MESA, Calif., April 13, 2017 /PRNewswire/ -- Karma Automotive announced today details regarding its new global headquarters at 9950 Jeronimo Road in Irvine, CA. The 260,000-square-foot building will initially house 600 employees.

Karma Automotive purchased the 17.5 acre property for $56.25 million from Bixby Land Company with a planned initial occupancy of July 1, 2017. The facility will house the Company's executive offices, design center, engineering team, research and development, test laboratories, operations and administrative staff.

NEW KARMA AUTOMOTIVE GLOBAL HEADQUARTERS

"It's important for Karma to have a headquarters that reflects the brand for our employees, business partners, and customers, and will provide an environment that attracts new talent as we continue to grow," said Cameron Adamson, Chief Financial Officer. "Our new headquarters represents a huge milestone. This investment in addition to the Moreno Valley production plant reinforces Karma's commitment to being a true California car company."

About Karma Automotive
Karma Automotive is a U.S. manufacturer of luxury plug-in hybrid vehicles. Unapologetically conspicuous in their beauty. Uncommonly light in their footprint. Designed, engineered, and manufactured In Southern California.

For more information, visit www.karmaautomotive.com

SOURCE Karma Automotive