Karma chose the backdrop of 2024 Monterey Car Week to showcase the Ivara, a concept that heralds the arrival of the brand's first SUV.
This concept also signifies a strategic shift where Karma will offer both electric vehicles and plug-in hybrids.
Karma describes the Ivara as a “grand touring utility vehicle,” and the design certainly conveys a vehicle more suited for the road than off-road. Karma stated that the concept also previews the new design language for the brand, particularly the front end which features concealed headlights and is completely devoid of a grille.
The production version is targeted for launch by the end of 2027, and may initially arrive as a plug-in hybrid with an electric option to follow later, depending on how the EV market evolves. The plug-in hybrid option will utilize a series plug-in hybrid setup similar to what Karma offers in the Revero sedan.
Unlike a regular plug-in hybrid or parallel plug-in hybrid, a series plug-in hybrid uses its gas engine solely as a generator to recharge the battery when the range is low. The advantage is that a smaller battery can be fitted, and more range can be added by refueling with gas.
Karma is a California-based company that emerged from the remnants of the original Fisker Automotive. Its first model was the 2017 Revero, a heavily updated version of the former Fisker Karma series plug-in hybrid. Karma has now developed a third-generation Revero, which will begin sales later this year, with production capped at 150 units and starting prices below $150,000.
The third-generation Revero features a pair of electric motors at the rear axle delivering a combined 536 hp, and a BMW-sourced turbocharged 1.5-liter inline-3 sitting up front serves purely as a generator for the battery. Karma estimates a range of 80 miles using the battery alone and over 360 miles with the gas engine engaged.
Karma is also planning high-performance EVs in the form of the Gyesera sedan and Kaveya sports car. The elegant sedan was showcased in March during the 2024 Amelia Island Concours d'Elegance and was originally due this year, although Karma's CEO Marques McCammon hinted during an interview with Automotive News (subscription required) at the reveal of the Ivara that the Gyesera may be modified to fit the company's series plug-in hybrid powertrain.
"We’ve listened to the market and we’re leveraging our flexibility," he said. "You’ll see some changes in the Gyesera platform that the market will respond well to."
The Kaveya is on track for launch in 2026 and will offer up to 1,000 hp from an electric powertrain, according to Karma. Pricing will be around $300,000.
At Monterey Car Week, Karma showcased the Kaveya with its production-ready interior. The company also mentioned that the Kaveya will be a software-defined vehicle (SDV) utilizing technology developed with Intel. An SDV is simply a vehicle whose software and hardware allow it to be updated via the cloud, potentially throughout its entire lifespan.
