The Wanxiang Group, a Chinese company founded by billionare Lu Guanqiu, has bought Fisker Automotive Inc, and plans to relaunch the company as Karma Automotive. According to Automotive News, their first order of business is to build a $375 million electric vehicle plant in Hangzhou, China. 

2012 Fisker Karma

Karma Automotive will apparently produce two models: the eponymous Karma four-door sports sedan, and the two-door Atlantic. Both are said to be based on the existing Fisker Karma platform. No word if the cars will go full EV, or remain plug-in hybrids like before.

If you're feeling nostalgic, check out our Road Test of the 2012 Fisker Karma here.