(Reuters) - Luxury automaker Karma Automotive on Friday named Liang Zhou as its new chief executive replacing Thomas Corcoran.
Zhou, the current chief executive and president of Beijing Foton-Daimler Automotive, has over 25 years of experience in the automotive industry.
Wanxiang Group, a major Chinese auto parts supplier, bought the assets of California-based plug-in hybrid carmaker Fisker Automotive and later changed Fisker’s name to Karma Automotive.
Fisker was founded in part with a U.S. government loan and ceased production of its $100,000 plug-in electric hybrid sports cars in 2012 after a series of technical glitches and cost overruns.
Fisker’s electric cars enjoyed a cult following for their streamlined design among early fans including actor Leonardo DiCaprio and pop star Justin Bieber.
Zhou will be based in the Karma Automotive’s global headquarters in Irvine, California.
Reporting by Sanjana Shivdas in Bengaluru; Editing by Shounak Dasgupta