Remember Fisker Automotive? Founded in 2007 by former Aston Martin DB9 designer, Henrik Fisker, the company eventually went on to release the Fisker Karma in 2011, probably one of the best looking electric hybrids ever designed. Fisker Automotive declared bankruptcy in 2014 despite nearly $1bn of private equity and government loans, $139 million dollars of US federal energy loans was was never paid back. The remnants of Fisker Automotive were eventually purchased by a Hong Kong billionaire Lu Guanqiu and his company, the Wanxiang Group, is planning an ambitious turn around strategy. Now called Karma Automotive the Wanxiang Group plan to turn the Fisker Karma into a Tesla rivalling all electric car. Tesla have a limited presence in China and has been held back by government legislation and a poor distribution network, i.e. dealers. Karma Automotive want to tap into the growing electric car market by investing £375 million dollars into a new electric car factory that aims to have a capacity to manufacture 50k cars per year. The Chinese government is currently trying to improving environmental air quality and sees the electric car market to significantly reduce emissions and smog caused by ‘traditional’ powered cars. The Chinese government will issue new production license to allow companies like Wanxiang Group to evolve from the manufacture of car components into full blooded car manufactures. Wanxiang Group is one of the many companies eyeing up these new production licenses and is said to be one of the first in the line to be approved by the government. The new Chinese made Karma will sure to be based on the Fisker Karma and is rumoured to offer Tesla-like range extending models.