Southern California-based Karma Automotive chose Auto Shanghai 2019, the world’s largest automotive show, to usher in a new era for the company and launch its New Dawn product showcase illustrating its immediate, mid-term and long-term future.
“This is the first major auto presence for Karma in China, and marks a significant moment by ushering in a new era for the company,” said Karma CEO Dr. Lance Zhou. “Today, Karma is ready to move forward with bold steps, a chapter we call our New Dawn.”
Karma’s New Dawn Features “Shanghai Big Three”
The luxury electric vehicle automaker punctuated its design, customization and high-tech engineering capabilities by presenting three new products, a trio Karma calls its Shanghai Big Three:
- A new 2020 Karma Revero GT luxury electric vehicle: it’s fast, smart, stunning in design, and will be available for sale during the second half of this year. The new car offers improved technology, performance, interior and exterior options and customization capability. It features a TwinPower Turbo three-cylinder in-line engine supplied by BMW AG to power an on-board electric generator and enhance overall vehicle performance. Karma engineers created a world-class electric drive system that alongside a series of other technological advancements enables the new 2020 Revero to be as fast as it looks.
- The Karma Pininfarina GT coupe: the first result of a partnership with Pininfarina, the iconic Italian design and engineering house. The Pininfarina team took a new 2020 Revero GT, retained the fundamental engineering parameters and then crafted a new body style, panels and interior, offering an alternative design interpretation. Typically, Pininfarina reserves the GT (Gran Turismo) designation for only in most exceptional in-house creations; this is the first time in its history that Pininfarina graced a collaborative project with its GT.
- The Karma SC1 Vision Concept: a signpost to Karma’s future – one that recognizes and embraces full electrification. The roadster reimagines Karma design language for tomorrow and soon-to-come customization options, and shows the brand’s future direction based on full BEV offerings at the company’s core. The Karma SC1 Vision Concept features the best of some of tomorrow’s cutting-edge technologies with Karma’s distinctive take on integration. At the core of SC1 Vision Concept’s technological suite is a new infotainment architecture with 5G connectivity as well as a humanized communication system, which integrates touch, voice, eye, and graphical interfaces to enable seamless interaction with the roadster.
“Taken together, our Shanghai Big Three shows what Karma is today, what Karma can be tomorrow, and where Karma is heading in the future,” Zhou said.
Karma Is More than Just a Car Company
As part of its Value Forward business strategy, Karma is pursuing an “open-platform” philosophy to attract partners, technology and know-how, create efficiency and enhance long-term brand value. Karma’s luxury electric vehicle niche and in-house engineering resources offer innovators an excellent test bed to incubate, grow and prove their emerging technologies, creating opportunities for the company to generate new revenue streams for its customization and technology expertise.
“We are agile, nimble, and can move fast with a deep sense of urgency; that’s Karma’s big advantage,” he explained. “We will use partnerships with like-minded collaborators to accelerate our progress by acquiring and developing key technologies important to connectivity, performance, artificial intelligence, shared mobility platforms and electrification.”
Zhou’s plan is fueled in part by partners like Pininfarina whose design expertise helps the company accelerate product development, differentiation, and personalized customization that allows every Karma to be special. Pininfarina is attracted to Karma, Zhou added, because its luxury electric vehicle platform can help advance their growth strategy in North America, especially after opening a new design center in Los Angeles.
“This kind of collaboration illustrates Karma’s open-platform philosophy,” Zhou said. “Partners can use our product platform as an incubator to test and prove their new innovations, and likewise, our engineering and design resources can be offered to help other partners advance their needs. So, yes, Karma is a car company but Karma is not just a car company.”
Growing Good Karma
The Karma Automotive story started in 2014 when The Wanxiang Group, a multinational automotive components manufacturing company with headquarters in Hangzhou, Zhejiang province, China, founded the business. Today, Karma employs nearly 1,000 people across four sites:
- Global Headquarters: Irvine, Calif.
- Karma Innovation & Customization Center: Moreno Valley, Calif.
- Detroit Technical Center: Troy, Mich.
- Karma China Design & Engineering Center: Hangzhou, China
“We have the advantage of private equity backing from extremely supportive owners who are allowing us to grow the business progressively and smartly,” Zhou said. “We are focused on a gradual, but progressive rollout strategy aimed at putting the building blocks of a car company in place – a growing dealer network, committed supply chain, craft center and a talented workforce.”
By establishing Karma in the U.S. first – the world’s most demanding luxury market – Zhou said he believes the company can succeed anywhere. “Karma will be live in Europe and the Middle East next year and then Asia,” he added. “We will be in China by 2021. By gradually expanding our presence this way I am confident our company – and our products – will be well prepared for the discerning Chinese luxury buyer of the future.”
The Karma Innovation and Customization Center (KICC)
Karma chose to headquarter and build a craft production facility just 60 miles from its global headquarters in Irvine, Calif., to purposely and meticulously build one-of-a-kind cars..
Representing a total investment of more than $100 million, Karma’s innovation and customization hub first came to life in 2015 and now comprises the very latest in automotive technology and tooling over a sprawling 556,000 square feet under one roof in Moreno Valley, Calif.
“The name, Karma Innovation and Customization Center, reflects our future focus and growing skillset centered on innovation, customization and technology integration,” Zhou said. “KICC’s skilled workforce take great pride in delivering distinctive luxury electric vehicles with world-class design, technology and personalization.”
Karma’s exclusive design and craftsmanship allows it to take customization to a new level enabling every Revero to be special, and supports a fundamental commitment to unrivaled customer treatment. KICC will also house a VIP Customer Experience Center offering every Karma owner a personalized look into the company’s focus on luxury, high technology, customization and special treatment.
California’s Shining Star
With the Shanghai Big Three, especially the new 2020 Revero GT, Karma seeks to firmly establish itself as an authentic and credible player in the luxury electric vehicle segment – the only automaker, Zhou notes, who is actually designing, engineering, marketing and handcrafting vehicles in Southern California.
“While many other business have left our region in search of less regulation and easier paths, Karma chose to do business in California for the long term,” Zhou said. “Karma and California are united in spirit. This is home to innovators, entrepreneurs and big thinkers; a land where anything is possible and where the next generation of luxury will come from. That’s why I want Karma to become California’s shining star.”
Editor’s Note: The larger design, customization and engineering story behind the new 2020 Karma Revero GT, Karma Pininfarina GT and Karma SC1 Vision Concept can be found at the Karma Newsroom:www.karmanewsroom.com
Meet Karma Automotive and Karma Revero
Karma Automotive designs, engineers, and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. The Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies Karma’s goals of offering leading automotive design, technology, customization and an outstanding customer experience. Every Revero is created with great individual care and world-class craftsmanship at the Karma Innovation and Customization Center in Moreno Valley, Calif.
SOURCE Karma Automotive
DAY TWO OF HONG KONG INVESTOR SUMMIT TACKLES MEGATRENDS IMPACTING THE PLANET’S EIGHT BILLION CITIZENS
HONG KONG, Dec. 8, 2023 /PRNewswire/ — The Future Investment Initiative PRIORITY Summit Hong Kong today reconvened leaders from finance and government for a second day to address global matters of concern to humanity.
One thousand global investors, policy makers, innovators and business leaders were joined by counterparts from across Asia to discuss ‘megatrends’ including the unstoppable rise of Asia as an economic power, the impact of technology on lifestyles and jobs, and the deployment of capital between diverse markets and economies.
The day began with a presentation by FII Institute CEO Richard Attias and COO Rakan Tarabzoni of the Priority Compass Report, a global survey of 53,000 people across 23 countries. The survey revealed a sharp drop of 20% worldwide in people’s overall satisfaction with their lives, with respondents reporting concerns over cost of living, loneliness, technology, and climate concerns. 65% of people in countries polled are worried about day-to-day living costs. Loneliness has leaped up the list of concerns, with 41% of Asia’s population reporting frequent feelings of loneliness. 55% of people worldwide are worried about access to affordable and accessible healthcare and climate concerns continue to deepen as 78% of people across the Global South are worried about pollution.
Laurence Moroney, Lead AI Advocate at Google addressed concerns about AI and the risk of biases emerging because of reliance on narrow English language datasets. Moroney pointed out that 60% of information on Web 2.0 is generated by bots.
He also argued that innovators in AI need to account for distinctive local cultural identities in the development of AI models and explained that Google’s Gemini is working to condense and preserve cultures into small models, allowing people to interact with, learn about, and preserve individual distinctive cultures.
A panel discussion on cost of living heard Jerry Li, Founder and Managing Partner eWTP Arabia Capital describe data as the new oil, a resource driving innovation and progress. The 120 zettabytes (120, 000,000,000,000,000,000,000 bytes) generated in 2023 is expected to increase by over 150% in 2025, to 181 zettabytes.
During a panel discussion on the future of work Edith Yeung of Race Capital suggested that AI will free people from doing the things that they do not want to do, freeing them for more meaningful activities. The average person will spend 90,000 hours at work over a lifetime.
Raymond Yuan, CEO & Chairman CTH Group pointed out synergies between blockchain and AI starting to emerge in healthcare, life sciences, as well as financial services. The global Blockchain Market size was estimated to be approximately $7.4 billion in 2022 and the global artificial intelligence market $428 billion.
A panel of leading Asian venture capitalists debated ways in which Asia can grow vibrant and successful startup ecosystems, with $22.3 billion invested in Asian startups between July and September 2023.
Discussing the impact of investment on longevity and ageing Joshua Fink, Founder Luma Group, explained that revolutionary regenerative medicine, inspired by Nobel Prize-winning research, can reverse cells to a pre-disease state, offering hope against genetic diseases.
His Royal Highness Prince Faisal bin Bandar bin Sultan, Chairman, Saudi Esports Federation described the spectacular growth of gaming over the last 20 years at 12% per year. By the end of 2023 it is projected there will be 3.75 billion gamers in the world.
In a ‘titan of industry’ fireside chat with Sir Martin Sorrell, Richard Attias and Sorrell surveyed the global media sector, worth $950 billion, with digital projected to comprise 70% by 2025. On the future of platforms such as TikTok Sorrell explained that with young people’s views being shaped by new forms of social media, issues surrounding data safety and privacy will continue. Discussing ‘hyper personalization’ he pointed out that Coca Cola is thinking about the potential for AI to target individual messages to consumers.
Rakan Tarabzoni, COO, FII Institute presented the summit with FII’s inclusive ESG tool, launched to help companies in emerging markets improve sustainability and help investment capital find current and future performance leaders. The tool, which has been made publicly available will address biases inbuilt in other ESG methods and may unlock a $5.4 trillion funding gap of investments into emerging markets.
In the final session HE Kjell Magne Bondevik former Prime Minister of Norway and President, Oslo Centre for Peace and Human Right declared himself convinced that businesses that take more seriously the concerns of common people will be the businesses that will thrive in the future.
The FII Institute has worked with HKEX and consulting firm Deloitte to offset the carbon emissions generated by the summit, by purchasing credits on the HKEX Core Climate exchange, exemplifying a shared conviction that purposeful markets and business can serve humanity as a force for good.
During the summit BOC International signed a strategic cooperation framework agreement with SPIC International Finance (Hong Kong) Company Ltd. on green finance, bond investment and issuance, and global capital management. The signing was witnessed by Mr. Paul Chan, Financial Secretary of Hong Kong SAR.
The summit, held in partnership with Hong Kong Exchanges and Clearing Limited (HKEX), took place at HKEX Connect Hall.
The FII PRIORITY Summit Hong Kong continues conversations held in Riyadh last month. It is part of an ongoing global programme of summits, to be held next year in Miami (February) Brazil (June) and Africa (September))
Richard Attias, CEO of the Future Investment Initiative Institute said:
“I should like to thank Hong Kong Government, the Hong Kong Exchange and the people of this fabulous city for the welcome they have shown us this week. As the world charts its forward course we must be mindful at every turn of the issues that matter. Whether it’s cost of living, developing new modes of payment, new social media platforms, or poverty, it is investment and innovation that can make the difference. The investors and innovators here this week have taken these issues seriously and the conversations and hard work will continue as we strive for a better tomorrow.”
For media inquiries, please contact:
Email: [email protected]
About FII Institute
The Future Investment Initiative (FII) Institute is a global non-profit foundation driven by data with an investment arm and one agenda: Impact on Humanity. Global and inclusive, we foster great minds from around the world and turn ideas into real-world solutions in four critical areas: Artificial Intelligence (AI) & Robotics, Education, Healthcare and Sustainability.
OrangeX Unveils $5M Innovation Fund, Accelerating Support for Bitcoin Ecosystem Growth
VICTORIA, Seychelles, Dec. 8, 2023 /PRNewswire/ — OrangeX, a global cryptocurrency exchange, is proud to unveil its $5 million Innovation Fund. Designed to bolster the Bitcoin ecosystem and propel blockchain innovation, the Fund’s core focus is on investing in promising projects within the Bitcoin ecosystem, including Ordinals Protocols and BRC-20 standard tokens.
In the dynamic landscape of the evolving Bitcoin ecosystem, various features and functionalities are continually reshaping its potential. Notably, the BRC-20 token standard has emerged as a key player, attracting significant attention.
Recognizing the surging demand and immense potential of BRC-20 standard token projects, OrangeX’s Innovation Fund stands ready to provide crucial capital and infrastructure support to empower the community in building a resilient and flourishing Bitcoin ecosystem.
Exciting Bitcoin Ecosystem Initiatives
OrangeX is proud to introduce a range of products and services tailored for the Bitcoin ecosystem and projects, catering to user preferences. Key offerings include:
- Bitcoin-based Token Trading: Facilitating the listing and trading of Bitcoin-based tokens. ORDI, the largest BRC-20 token, is now available on both OrangeX Spot and Perpetual Contracts.
- Bitcoin Ecosystem Information: Providing valuable insights and analytics on the Bitcoin ecosystem.
- Bitcoin Ecosystem Token Launchpad: Offering a fair and efficient token distribution service for promising Bitcoin ecosystem projects with financial, technical, and marketing assistance. Share early ecosystem returns with a larger customer base. Interested project owners can contact [email protected] for more information.
OrangeX CEO, Alexandra K, expressed confidence in the potential of outstanding Bitcoin Ecosystem projects. He stated, “These projects not only stand to receive financial backing from OrangeX but also gain access to a suite of services, resources, and connections available through our platform. With these tools, we believe our supported projects will thrive, succeed, and have a positive impact on the world.”
Empowering the Bitcoin Ecosystem: OrangeX’s Pioneering Role
Bitcoin, the original cryptocurrency, remains the bedrock of blockchain finance. Every trading platform benefits from the development of Bitcoin. If there is no Bitcoin, cryptocurrency exchange will no longer exist. With 15 years since its inception, the Bitcoin revolution continues to unfold, presenting a dynamic and evolving ecosystem. Anticipate groundbreaking innovations that will redefine possibilities.
As a central figure in this domain, every cryptocurrency exchange is urged to actively contribute to the ongoing development of the Bitcoin ecosystem. OrangeX, as a trailblazer, introduces the Innovation Fund, a platform committed to integrating Bitcoin ecosystem products. This initiative aims to address user needs in exchanging, managing, and investing in Bitcoin-based projects.
OrangeX invites collaboration from institutions, communities, and projects to join forces in propelling the growth and diversification of the Bitcoin ecosystem. Together, let’s forge a future where Bitcoin is more accessible, versatile, and inclusive – ensuring its enduring significance in the ever-evolving landscape of blockchain-based finance.
Founded in 2021 in Seychelles, OrangeX stands as a worldwide cryptocurrency trading platform renowned for its cutting-edge technology, proficient team, and seasoned financial knowledge. With more than 1 million active users, OrangeX has built a comprehensive product line, dedicated to empowering investors to make a better future. OrangeX futures trading offers 3 service options: USDT-M Perpetual Contracts, One-Click Copy Trading and Powerful API. According to Coinmarketcap(CMC) and CoinGecko, OrangeX Spot now supports over 100 coins with approximately 130 trading pairs.
For media inquiries, please contact: [email protected]
The 2023 Global Investment Promotion Conference Held in Shenzhen, China
SHENZHEN, China, Dec. 8, 2023 /PRNewswire/ — On December 8, the 2023 Shenzhen Global Investment Promotion Conference was held in Shenzhen, China. Over 380 projects were signed, with a total investment of 1 trillion yuan. The event was attended by more than 1,000 distinguished guests from countries and regions including the United States, Japan, and the EU.
Shenzhen, an open city, is extending invitations to global investors. Under the theme of “Create New Paradigms, Embrace Shared Opportunities — Invest in Shenzhen, Build a Winning Future”, the Conference took place in the format of “1+1+12+N” events, according to the Commerce Bureau of Shenzhen Municipality. Specifically, it consists of one main event, namely the Investment Promotion Conference and the Shenzhen City Summary Meeting on Investment Promotion; one Investment Outcome Exhibition Area; 12 district-level investment promotion conferences; and several overseas parallel sessions and industrial investment promotion activities. Ten overseas parallel sessions were staged in Madrid, Zurich, Hawaii, Vancouver, San Diego, Brisbane, Chicago, Tokyo, Sydney, and Milan. 12 industry investment promotion activities were held on various topics, including energy storage, digital energy, finance, consumption, talent attraction, and high-tech industries.
A favorable business environment serves as the best “Chinese parasol tree”, the greatest “magnet”, and the core competitiveness of a city. The Conference showcased investment opportunities and policies for investing in Shenzhen as well as presented Shenzhen’s first-class business environment to the world. Shenzhen has ranked among the top in China’s business environment evaluations for all 18 indicators. With a flourishing private economy, Shenzhen boasts a total of 4.16 million registered business entities and ranks first nationwide for the total quantity and density of entrepreneurship.
The excellent business environment has made Shenzhen a popular land for international investment, and multinational companies maintain promising prospects for investment in the city. Thomas Triomphe, Global Executive President of Sanofi Pasteur, expressed confidence in the tremendous potential Shenzhen holds for the future. “This is an incredible city. The technological and economic development in Shenzhen has been impressive over the past few years,” said David Kohler, Chairman and CEO of Kohler Group.
This year, the Conference set up the Investment Outcome Exhibition Area for the first time to present the investment outcomes and development plans of the districts and departments of the city in recent years. An area was also set up for an exhibition on local renowned brands to display products in advanced manufacturing, consumer electronics, trendy lifestyles, and the new-style tea industry.
- DAY TWO OF HONG KONG INVESTOR SUMMIT TACKLES MEGATRENDS IMPACTING THE PLANET’S EIGHT BILLION CITIZENS
- OrangeX Unveils $5M Innovation Fund, Accelerating Support for Bitcoin Ecosystem Growth
- The 2023 Global Investment Promotion Conference Held in Shenzhen, China
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