IRVINE, Calif. (Jan. 13, 2020) – Karma Automotive today announced the opening of its latest addition to its dealer network: Velocity Motorcars in Nashville, Tennessee.

Velocity Motorcars serves the greater Nashville metropolitan area, and its opening supports Karma’s continuing expansion of its dealer network into new and emerging markets.

“It is our honor to have Velocity Motorcars join the Karma dealership network and introduce our brand to clients in the growing Nashville market,” said Nick Westalski, the General Manager of Velocity Motorcars Nashville LLC. “We are looking forward to working with Karma and offering our clients a luxury experience of purchasing the best vehicle they can imagine.”

In 2020, Karma added more than 16 new dealer partners globally. Karma Nashville brings Karma’s North American retail presences to 27 locations.

“We’re pleased to have Velocity Motorcars join us as a new dealer-partner. Karma Nashville is an important location as it will usher in the Karma brand to the State of Tennessee.” said Joost de Vries, Karma’s Vice President of Global Sales and Customer Experience. “Velocity Motorcars – along with our other new dealer point additions — allows us to continue improving the shopping and ownership experience for Karma customers nationwide.”

Velocity Motorcars Nashville LLC is located at 720 Airpark Center Drive, Nashville, Tennessee, 37217, and can be reached by telephone at (615) 5401675, or online at http://www.velocitymc.com.

For more on Karma Automotive and the dealer network, please visithttp://karmanewsroom.com.

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 comprised of approximately 40 locations 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)