Wanxiang Group will delay the relaunch of the Fisker Karma hybrid sports car until mid-2016, according to local reports.

The Chinese automotive components giant also plans to rebrand Fisker Automotive, the failed US manufacturer of the electrically-powered sports car, which it salvaged from bankruptcy a year ago, as Elux.

The Elux Karma, designed to take on the Tesla electric sports car, will be priced at around US$135,000 when it is relaunched next year.

Wanxiang has also acquired the car’s US battery supplier, A123 Systems, which followed Fisker into bankruptcy in 2012 and has spent large sums updating the car to ensure it remains competitive.

Just Auto Excellence Awards - The Benefits of Entering

Gain the recognition you deserve! The Just Auto Excellence Awards celebrate innovation, leadership, and impact. By entering, you showcase your achievements, elevate your industry profile, and position yourself among top leaders driving automotive industry advancements. Don’t miss your chance to stand out—submit your entry today!

Nominate Now