Wanxiang Gets China Electric Vehicle Permit to Make Karma Cars

Wangxiang Group, the owner of Karma Automotive, became the second auto-parts maker to receive permission from the nation’s top economic planner to produce electric cars under a special scheme to encourage companies outside auto manufacturing to develop new-energy vehicles. Founded by Chinese billionaire Lu Guanqiu, Wanxiang Group got approval from the National Development and Reform Commission to invest in facilities to manufacture extended-range electric vehicles with annual capacity of 50,000 units, according to a notice on the agency’s website on Friday.