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
VersaPay Announces Dream Office REIT as Newest CRE Client
VersaPay Corporation (TSXV: VPY) (“VersaPay”), a leading provider of cloud-based invoice-to-cash solutions including electronic invoice presentment and payment, automated accounts receivable, cash application and collections management, is pleased to announce that it has added Dream Office REIT (“Dream Office”) as its newest commercial real estate client.
“With our real estate portfolio expanding in Canada and the US, our objective is to enhance our tenants’ experience and provide them with a convenient web-based and mobile portal where they can access their account, retrieve invoices, communicate and make secure electronic payments,” stated Joanne Leitch, Vice President, Property and Operations Accounting at Dream Office. “We want to create efficiencies by eliminating manual processes, minimize errors and reduce the need for tenant account reconciliations. VersaPay offered the platform to make all of this possible.”
“Through our vendor selection process we searched for a company who could provide a platform with extensive functionality with whom we could partner to provide our tenants an improved experience. VersaPay provided what we were looking for in addition to a robust integration with our JD Edwards ERP to provide real-time AR and cash review,” stated Travis Vokey, Vice President and Head of Technology for Dream Office.
“We are so pleased to be working with Dream Office, a forward-thinking Commercial Real Estate company located right here in Toronto,” said Craig O’Neill, CEO of VersaPay. “Dream is a leader in its industry, offering high-quality central business district office properties to an impressive list of tenants. One of the keys to its success has been providing tenants with a market leading experience in all facets of the business, and we’re delighted to extend this to their tenants’ experience in billing and payments.”
SOURCE VersaPay Corporation
Xoom Rolls Out Domestic Money Transfer Services in the U.S.
Xoom, PayPal’s international money transfer service, today rolled out the ability for customers to send money to recipients in the U.S. for the first time. Through strategic alliances with Walmart and Ria, Americans can now use Xoom to send money fast for cash pick-up typically in minutes at nearly 5,000 locations across the country*.
Xoom’s services potentially benefit more than 44 million foreign-born people in the U.S.1 who send remittances to family and friends in their home countries. With the introduction of domestic money transfer services, Xoom will now serve even more customers, including more than half of Americans who make domestic person-to-person (P2P) payments2. Using Xoom’s mobile app or website, consumers will have the ability to send money quickly and securely for cash pick-up at any Walmart or Ria-owned store in the U.S.
“Many of our customers in the U.S. already send money to loved ones in the country, and they usually prefer that the money is available right away,” shared Julian King, Xoom’s Vice President and General Manager. “This rollout reinforces our commitment to make money transfers fast, easy and affordable for everyone, whether they are at home or on-the-go.”
“At Ria, we are delighted to further consolidate our relationship with Xoom and Walmart,” said Juan Bianchi, CEO of Euronet’s Money Transfer Segment. “Our continued partnership is a fine example of how Ria’s technology can serve as an enabler between platforms, offering consumers and partners an added layer of security and compliance screening, in turn facilitating value creation within the Fintech ecosystem.”
Many consumers in the U.S. face personal, institutional and policy-related barriers to access the financial system. These underbanked consumers rely heavily on fringe financial service providers to conduct routine financial transactions and pay high fees in the process. With Xoom’s introduction of domestic transfers, Americans can send money at affordable rates for cash pick-up quickly at 4,684 Walmart stores and 175 Ria locations across the United States. For more information on store locations and eligible banks, visit xoom.com.
A pioneer in digital remittances, Xoom is a fast way to securely send money, pay bills and reload phones for loved ones in over 160 countries globally. These remittances serve as a lifeline for many people around the world and are used to pay for every day needs like utility bills, healthcare, and education costs, as well as emergencies. The largely cash-based system of sending money across borders is full of paperwork, high fees, standing in line and an ever-present uncertainty of when, and if, the money will arrive when it’s needed. By providing fast and more secure payment options for customers to seamlessly and securely send money across borders by going online or using a mobile device, PayPal and Xoom are helping to expand and improve the financial health of millions of people worldwide.
*Fees and Limitations apply
SOURCE PayPal, Inc.
SpeakEasy Awarded Cultivation, Processing and Cannabis Sales Licence by Health Canada
SpeakEasy Cannabis Club Ltd. (CSE: EASY) (Frankfurt: 39H) (“SpeakEasy” or the “Company“) is pleased to announce that it has received Health Canada’s coveted licence for cultivation, processing and medical sales. The Company, situated on 290 acres of fertile land in the Okanagan’s renowned Golden Mile, has demonstrated adherence to the industry’s rigorous compliance standards, and can now grow and provide its high quality, small-batch cannabis to the burgeoning recreational and medical markets.
With the receipt of the licences, the Company has immediately begun cultivation of cannabis in its 10,000-square-foot, purpose-built, state of the art facility. The Company has aquired an extensive library of unique genetics that will be used as starting material for the cultivation of cannabis at the facility.
SpeakEasy’s outdoor cultivation site has also been completed and stands ready to receive these genetics for the 2020 growing season. SpeakEasy plans to submit its evidence package for the outdoor field and amend its licence to allow outdoor cultivation on its 60 acre field. “Receiving our licence at long last, is a dream come true for all of us in the SpeakEasy family. The support we have received from shareholders, employees, family and friends has been overwhelming and I appreciate you all more than I can say,” says Marc Geen, founder of SpeakEasy. “When it comes to producing phenomenal craft cannabis, farms will always be superior to factories and culture will always speak louder than corporations. Real people recognize authenticity and SpeakEasy intends to lead by example, sharing the story of our people through the excellence of our product.” With the anticipation of receiving its outdoor licence, SpeakEasy is positioned to become one of the largest cannabis producers in Canada with extremely low cost per gram outdoor grown flower and extremely high quality small batch indoor flower.
SpeakEasy recently completed the transformation of a 60 acre orchard into a custom built outdoor cannabis cultivation environment. The fertile agricultural land is expected to enable the farm to produce up to approximately 70,000kg of cannabis flower and the Company plans to double the output to up to approximately 150,000kg, pending approval of its outdoor cultivation licence.
Construction commenced in the fall of 2017 on the 80,000-square-foot SpeakEasy campus in anticipation of demand for SpeakEasy’s craft cannabis flower and value added products. Buildings two and three were completed to lock-up in the second quarter of 2019 and building four, another 26,600-square-foot facility commenced in the spring of 2019 and is also at the lock-up stage of its development. The anticipated use of building four is the processing of sun grown outdoor flower and biomass for extraction. SpeakEasy has accumulated an impressive library of unique genetics from sources outside existing licence holders, empowering the Company to develop new strains, unique to SpeakEasy, for both indoor and outdoor cultivation.
SpeakEasy founders and team members are long standing advocates for the value of community and harnessing the power of combined expertise through successful farming cooperatives. SpeakEasy now plans to apply the same values for cannabis farming. SpeakEasy’s innovative business model is designed to support industry-leading talent through shared knowledge, resources and passion, with a commitment to maintaining exceptional quality standards and developing unique cannabis strains. The Company empowers experienced growers and geneticists to operate independently with the freedom to develop each cultivar to perfection.
SOURCE Speakeasy Cannabis Club Ltd.
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