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California-based EV automaker Karma Automotive is looking to claw itself back from irrelevance in a fast-paced industry that has hockey-sticked upward in innovation without it. Following an aggressive strategy under a new president, Karma intends to introduce an entirely new EV portfolio next month, including its first super coupe. Here’s what we know so far.

Karma Automotive is a Chinese-owned automaker based in Orange County, California, whose roots date back to another early EV innovator that saw its own renaissance – Fisker. In February 2014, Chinese auto part supplier Wanxiang Group purchased the remaining assets of Fisker Automotive after it had filed for bankruptcy, deriving its very brand name from the Fisker model it had acquired.

By 2016, the young automaker released the Revero, which was really just a PHEV version of Fisker Karma. It was followed by plans for a Revero GT, which was supposed to be the brand’s halo vehicle. In 2021, Karma introduced a new GS line of EVs, including the GS-6 PHEV and all-electric GS-e6 – the latter of which never saw production.

For those keeping score at home, Karma has yet to deliver a passenger BEV. News surrounding the brand for the past three years has been sporadic. There was a lawsuit against fellow startup Lordstown Motors, which found the gavel in its own right, filing for bankruptcy this past June.

Other than that, we covered Karma expanding into the B2B market to help commercial operators electrify their fleets, but still no new passengers EVs. Hope had seemed lost until a new president stepped in this past spring who looks to put a spotlight back on Karma to crank out some new models quickly.

Karma new EV
Credit: Scooter Doll

Karma shares plans for a new EV lineup coming 11/11/23

According to Karma Automotive, its current president, Marques McCammon, has been quite busy since he took over the role in March of this year. McCammon said that one of his first tasks as president was to reach out to the company’s vice president of global design, Michelle Christensen, in order to try and emulate the work she did with Acura on the NSX supercar in 2017.

This isn’t just one vehicle remodel, though, but an entire portfolio of new EVs donning the Karma badge. McCammon spoke:

I explained that Michelle’s design work at Acura, which perfectly melded with the NSX brand platform, was the strategy I wanted to adopt at the new Karma. Then I told her you’ve only got eight months to get it all done.

Here we are, seven months later and a mere month away from Christensen’s deadline – can Karma deliver? Based on its press release today, it appears poised to at least unveil some new EVs next month, but to what stage in the development process they sit remains a mystery. Christensen spoke to the process of the past seven months, some of the hurdles faced, and where the automaker may end up in the EV market:

We resemble more of a woven fabric than a linear string like most automakers. This is the challenge of a lifetime. Designing vehicles – especially high-end exotic vehicles – historically takes several years, but our collaboration and ingenuity with low volume techniques has produced a seamless, gorgeous representation of our Karma identity. This is an animal that is very pure, a beautiful new flagship/halo that is all at once futuristic and will age gracefully. We’re creating low, long and fast vehicles that compare favorably to any high-end European brand.

Low, long, and fast – that’s what we may get a glimpse of on November 11, which is when Karma intends to share new details of its EV lineup at the Wynn Concours in Las Vegas, Nevada. The automaker says the public will learn more about its initial lineup of BEV sports tourers, including a super coupe, as well as how it intends to reach market.

Per Karma, it also intends to explain the company’s “rapidly paced product plan” that will see new Karma EV on the road in 2024 and beyond. All eyes will be on Vegas next month to see what sort of technology Karma is touting.

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BYD’s new 3,000 hp electric supercar puts Ferrari to shame

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BYD's new 3,000 hp electric supercar puts Ferrari to shame

BYD claims its new EV supercar has “the world’s strongest horsepower” after showing it off for the first time. The Yangwang U9 02 test car packs nearly 3,000 hp, and it’s coming for Ferrari.

Meet the 3,000 hp BYD Yangwang U9 02 EV supercar

China’s EV leader is at it again. In a trailer that resembled a promotional video for a new Fast and Furious movie, BYD unveiled the new Yangwang U9 02 for the first time.

BYD boasted its new Yangwang EV supercar has “the world’s strongest horsepower of over 3,000 Ps,” or just under 3,000 hp.

The trailer builds hype as the garage doors slowly rise, unveiling the Yangwang U9 with a white “02” badge on the hood. From the back, you can see the test car is designed for maximum performance with vortex generators, a small lip spoiler, and other added elements for better aerodynamics.

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BYD is keeping most details secret for now, but we do know it’s looking to break another global record. The video was accompanied by the caption “#GlobalElectricCarSpeedNewRecord.”

The new test car comes after BYD announced the Yangwang U9 Track Edition model set a new global speed record for electric vehicles just last month, after hitting a ridiculous 472.41 km/h, or around 293 mph.

After the milestone, BYD said it was “the first time a Chinese domestic brand achieved a world record in this field.” Now, it looks like BYD is gunning for even more.

BYD-3,000-hp-EV-supercar
The BYD Yangwang U9 Track Edition model (Source: BYD)

The Yangwang U9 Track Edition features the world’s first mass-produced 1,200V ultra-high-volt platform. It uses the same e4 platform and DiSus-X architecture, enabling it to “dance” and jump over obstacles.

BYD said its quad-motor system is the first in the world rated at 30,000 rpm, delivering a combined output of over 3,000 PS (2,959 hp).

BYD-3,000-hp-EV-supercar
Inside the Yangwang U9 electric supercar (Source: BYD)

With a power-to-weight ratio of 1,217 PS per tonne, the Yangwang U9 Track Edition outmuscles most hypercars today.

We should learn more about the Yangwang U9 02 soon. Check back for an official launch date, final specs, and pricing.

The Yangwang U9 starts at just 1,680,000 yuan in China, or around $233,000. Although it may sound pricey compared to most of BYD’s low-cost EVs, the EV supercar is still about half the price of a Ferrari SF90 Stradale. Not only is it faster, it’s also much more advanced, packing BYD’s highest level technology and software.

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Waymo is expanding robotaxi operations to Nashville through a partnership with Lyft

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Waymo is expanding robotaxi operations to Nashville through a partnership with Lyft

Fully autonomous technology developer Waymo announced a new partnership with rideshare network Lyft to offer driverless robotaxi rides to customers in Nashville, Tennessee.

As promised, robotaxi developer Waymo is expanding its Waymo One service to more and more cities around the US. Before today’s expansion news to Nashville, Waymo already operated autonomous vehicles in cities like Los Angeles, San Francisco, and Phoenix.

During a $5.6 billion Series C funding announcement in 2024, the mobility company detailed plans to expand Waymo-One rideshare services to additional US cities, including Miami, Florida, Austin, Texas, and Atlanta, Georgia, in 2025 through an ongoing partnership with Uber.

Most recently, Waymo announced additional expansion plans in Dallas through a new partnership with Avis, which will handle fleet maintenance in the region. Today, Waymo has confirmed yet another partner in Lyft, which will assist in offering riders in Nashville convenient robotaxi rides

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Robotaxi Nashville
Source: Lyft

Lyft to begin Waymo robotaxi rides in Nashville next year

This morning, both Lyft and Waymo published press releases outlining their new partnership, which will enable public robotaxi rides around the musical streets of Nashville as early as next year. Waymo co-CEO Tekedra Mawakana spoke about the new partnership:

We’re delighted to partner with Lyft and launch in Nashville next year, as we continue to scale our Waymo ride-hailing service to more people in more places. Lyft’s extensive fleet management capabilities through Flexdrive make them an ideal partner for expanding to Nashville. We can’t wait to introduce Music City’s residents and visitors to the convenient, consistent, safe, and magical Waymo experience.

To begin, Waymo says it intends to begin deploying its robotaxi vehicles in Music City in the coming months. From there, public rides will start with the help of Lyft’s fleet management subsidiary, Flexdrive. Per Waymo, Nashville riders will initially be able to hail a robotaxi from the company’s app, which will eventually expand to the Lyft app. Lyft CEO David Risher also commented:

This partnership brings together best-in-class autonomous vehicles with best-in-class customer experience. Waymo has proven that its autonomous technology works at scale. When combined with Lyft’s customer-obsession and world-class fleet management capabilities, it’s two great tastes that go great together.

Watch for the Waymo One robotaxis around Nashville in the coming months!

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Abu Dhabi’s XRG withdraws $19 billion offer for Australia’s Santos

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Abu Dhabi’s XRG withdraws  billion offer for Australia’s Santos

The Santos Ltd. Logo atop Santos Place building, which houses the company’s office, in Brisbane, Australia, on Monday, Dec. 11, 2023.

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Abu Dhabi’s National Oil Company has walked away from its $19 billion offer for Australia’s Santos, ending months of speculation over what would have been one of the country’s largest energy deals.

The consortium, which includes Abu Dhabi sovereign wealth fund ADQ and investment firm Carlyle, made the $19 billion indicative offer for Santos in June, but confirmed on Wednesday that it will not proceed with a binding takeover.

“It’s over,” a source familiar with the matter told CNBC. “The reality is, during the process, Santos was inflexible,” the source added. CNBC understands the XRG-led consortium had key concerns around value, tax, and the timeliness of disclosure. 

The source also described the Santos negotiation team as “unrealistic” and said that this was “not the outcome” Abu Dhabi’s XRG was hoping for. 

XRG said a “combination of factors” derailed its third attempt at securing Santos, which Abu Dhabi had hoped would bolster its ambitions to export LNG into the Asia markets. It’s understood other issues, such as a lack of communication and inflexibility over capital gains tax, and recent media reports over environmental risks that the consortium was not previously aware of, were part of the broader issues that derailed the deal. 

Although talks with Santos have collapsed, the consortium is still expected to explore opportunities in Australia’s energy sector. Sources familiar with the matter also emphasised that regulatory approvals, and unions, were not a concern, calling the decision “purely commercial.”

XRG, which has an enterprise value of $80 billion, recently took control of ADNOC’s listed subsidiaries, in a move to strengthen its financial position to seek out global energy deals.

Santos, headquartered in Adelaide, has been the subject of repeated takeover interest as global demand for natural gas accelerates alongside the energy transition. The company plays a key role in supplying LNG to Asian buyers, and has been a strategic target for international investors. 

CNBC has reached out to Santos for comment.

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