Wanxiang Group, an auto parts manufacturer based in China, delayed its revival of the Fisker Karma hybrid sports car and rebrand of Fisker Automotive to Elux to mid next year, sources claim.

The Chinese car parts maker bought the assets of Fisker Automotive last year in a U.S. bankruptcy auction. It had planned to resurrect the Karma, whose production was halted in 2012, to call it the Elux Karma and

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altogether drop "Fisker" from its name.

Sources assert that assembly of the restored gasoline-electric automobile will not take place in Finland as initially intended. A new production site has yet to be determined.

The company is said to see pricing at about US$135,000, almost 20 percent above the cost of the original Karma, but it did not provide any comment on the matter.

The fallen Fisker Automotive had emerged as a strong competitor to Tesla Motors Inc., but neither government support nor private investment could keep the company alive for longer than six years after its launch in 2007.

Its co-foudner, Henrik Fisker, had birthed the ever-famous sports cars Aston Martin DB9 and BMW ZS. He was last named the designer of a special, limited edition Ford Mustang, the Rocket, which he created for dealer Galpin Ford.

Sources expect the Elux Karma to closely resemble its predecessor the Fisker Karma, strongly following Henrik Fisker's primary design for the Karma. It is not clear whether Wanxiang will keep the sports car's
original battery pack that was developed and provided by U.S. company A123 Systems.

A123 Systems had also gone bankrupt, to finally be gobbled up by Wanxiang.

Wanxiang is said to be shelling out millions to revamp the sports car's hardware, updating it from its 2007 framework, in order to bring it up to par with competition's newer models introduced over the past several years.

TagsFisker Karma, Elux, Wanxiang, Fisker Automotive, Electric Car