The Wanxiang Group bought Fisker Automotive at auction last year and is now announcing that the Karma is back. Except instead of being the name of the car, this time it’s the name of the company.

Karma Automotive is the new company’s name “because it is relevant to both the old and new brands,” said the release making the announcement. Former Cadillac honcho Jim Taylor is now CEO of the new company. In order to ensure good karma, we assume, the company has hired 300 employees (making up for the 160 who lost jobs when Fisker bankrupted), is still based in California, and plans to re-launch the new Karma next year. Yes, it’s not just the name of the company. It’s also the name of the car. Still.

The car doesn’t appear to have changed much, with what little we know. It’s still going to be a hybrid, has a 350 mile range (combining both charge and gas tank), and the announcement for the new Karma Automotive was made.. you guessed it, right at the time Tesla announced the Model X. Why create your own buzz when you can just grab coattails?

Outside of this information and a rumor that Justin Bieber is first in line to get a new car from them via one of his BFFs, we don’t know much more about Karma Automotive. Other than that they’re hoping for some good karma.

Stay tuned folks. I’ll be here all week.

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An automotive enthusiast for most of his adult life, Aaron has worked in and around the industry in many ways. He is an accredited member of the Rocky Mountain Automotive Press (RMAP), the Midwest Automotive Media Association (MAMA), and freelances as a writer and journalist around the Web and in print. You can find his portfolio at AaronOnAutos.com.

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