After filing for bankruptcy, Fisker Automotive was resurrected and renamed as Karma Automotive back in 2016. To relaunch the brand, the company launched the Karma Revero hybrid luxury sedan, an evolved version of the original Fisker Karma. This also spawned the updated Revero GT hybrid sports car and the high-performance Revero GTS.

Looking ahead, Karma has ambitious plans for the future. The company is currently developing a revolutionary E-Flex Platform that will eventually underpin a production version of the 1,100-hp Karma SC2 electric supercar concept, which was recently shown undergoing testing. Potentially, this platform could be a game-changer as it can be used for a variety of vehicles ranging from supercars to electric delivery vans. But behind the scenes, the company is reportedly experiencing some serious financial woes.

Back in April, Jalopnik reported that Karma's workforce was hit with massive layoffs. There were also accusations of poor management and fake E-Flex prototypes that were described as "movie props."

Unfortunately, the situation hasn't improved, as sources have told the publication that Karma Automotive is filing for Chapter 11 bankruptcy. Several high-ranking executives have also left the company: Kevin Pavlov is no longer the COO of the company, and Karma's VP of Autonomous Driving and the director of Karma's safety program have also left.

According to Jalopnik's source, around 15 employees were furloughed in mid-May and Karma is planning to cut its workforce down to 38 employees when it files for Chapter 11 bankruptcy.

Karma has also been testing a Dodge-based delivery van with Level 4 Autonomous technology, but testing has allegedly been canceled as poor work quality from former BMW technicians have made it a "major safety hazard." There are also allegations of staff mistreatment, poor quality workmanship, and deception. By filing for Chapter 11 bankruptcy, Karma could re-organize its debts, but the future looks bleak based on the company's current reputation.