Karma Automotive Continues Global Retail Expansion With New Retail Outlet In Iceland

IRVINE, Calif., Feb. 9, 2021 /PRNewswire/ -- Karma Automotive today announced the opening of its newest addition to its global dealer network: Karma Iceland.

Karma Iceland is operated by Karma Rafbilar ehf., a premier company owned by a group of investors who have been involved in the electric vehicle market in Iceland since 2009. This new retail operation helps broaden Karma's growing international presence and brings its total to 36 sales points around the world. Karma has actively worked to increase its presence in global markets and will continue to add new retailers in the upcoming months.

"We are excited to add such a renowned and accomplished dealer presence in Iceland and are even more enthused about the prospects of adding to our global dealer network this year," said Rogier Kroymans, Karma's vice president of European sales and network development. "Karma Iceland is operated by Gisli Gislason, who is a true pioneer in his efforts to bring electric vehicles to Iceland. I am looking forward to working with his group – and other progressive outlets here in Europe – as we continue to work hard in bringing new Karma products to the region."

Karma Iceland will initially showcase the Karma's Revero® extended range electric vehicle for luxury buyers interested in something new and unique. Future products will also be added to their offerings later this year. With Iceland's national objective to become a carbon neutral nation by 2050, Karma will not only excite luxury car enthusiasts, it will also allow Icelandic citizens to continue their journey in reducing global emissions.

Karma Iceland is located at Fiskislod 31, Reykjavík,101, Iceland.

About Karma Automotive
Karma Automotive, founded in 2014, is a southern California based producer of luxury electric vehicles. Headquartered in Irvine, California with an assembly plant located in Moreno Valley, Karma sells vehicles via its dealer network in North America, Europe, South America and the Middle East. Karma's Innovation and Customization Center, which opened in 2019 offers world-class engineering, design, customization, and manufacturing resource opportunities to other companies. Karma's flagship vehicle, the Revero® GT, Green Car Journal's 2020 Luxury Green Car of the Year™, is an electric vehicle powered by dual electric motors that embodies Karma's goal of offering leading technology with a luxury experience. Every Karma vehicle is created with unparalleled individual care and craftsmanship.

For more information, visit www.karmaautomotive.com, or www.karmanewsroom.com.

Karma Automotive Safe Harbor Disclosure

This news release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements are subject to certain risks, uncertainties and assumptions and include Karma Automotive's expectations. Forward-looking statements typically can be identified by the use of words such as "will," "expect," "believe," and similar terms. Although Karma believes that its expectations are reasonable, it can give no assurance that these expectations will prove to have been correct, and actual results may vary materially. Factors that could cause actual results to differ materially from those contemplated above include, among others, general economic conditions, hazards customary in the automotive industry, competition in certain markets, the volatility of battery prices, failure of customers to perform under contracts, changes in government regulation of markets and of environmental emissions, and our ability to achieve the expected benefits and timing of our electric vehicle projects. Karma Automotive undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The foregoing review of factors that could cause Karma's actual results to differ materially from those contemplated in the forward-looking statements included in this news release should be considered in connection with information regarding risks and uncertainties that may affect Karma Automotive's future results.

(*) Suggested MSRP (exclusive of taxes, fees and delivery charges)

SOURCE Karma Automotive

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