RATE Group | Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales
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Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

16 Oct Luxury Car Manufacturer Begins Accepting Bitcoin for Vehicle Sales

Posted at 17:45h in Bitcoin News by

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California-based luxury electric car manufacturer Karma Automotive has begun accepting digital currency as a means of payment at one of its stores in Newport Beach.

Karma Newport Beach now enables customers to pay in Bitcoin (BTC) for new vehicle purchases and related services, according to a company press release on Oct. 15. Announcing the new offering, Karma CEO Lance Zhou said:

“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use. Karma’s flagship store will support our efforts to prove emerging technology and provide the latest VVIP customer treatment offerings by accepting Bitcoin cryptocurrency.”

The Chinese Wanxiang Group bought Karma’s assets from Fisker Automotive in 2014 for $149.2 million. It began building its flagship Revero vehicle in 2016, the new model of which retails for over $135,000. The Revero can reportedly travel 37 miles before needing a recharge. 

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