Karma Automotive Names New Chief Financial Officer

April 2, 2019 by Karma Automotive

•NEW CFO WILL USE STRONG FINANCIAL BUSINESS ACCUMEN TO ADVANCE KARMA'S BUSINESS AND PRODUCT PLANS

•KEY ASSIGNMENT: HELP CEO DRIVE BUSINESS GROWTH DURING A PERIOD OF RAPID PRODUCT INTRODUCTIONS

IRVINE, Calif. (April 2, 2019) – Ashoka Achuthan, an accomplished financial executive recognized as a strong performance driver and business partner to CEOs at several multinational corporations, has joined Southern California-based Karma Automotive as Chief Financial Officer (CFO) to help facilitate business growth during a period of rapid product introduction.

'Ashoka's strong financial business acumen will help shape Karma's evolution from a quiet and humble start-up company to a dynamic luxury electric vehicle automaker focused on design, advanced technology, customization and VVIP customer treatment,' said Karma CEO Dr. Lance Zhou. 'His deep experience in establishing strategic partnerships and driving operational improvements will play a critical role in supporting my Value Forward business strategy and our New Dawn product plan that spans the next decade.'

Achuthan comes to Karma from the Canadian-based Westport Fuel Systems Inc., a global leader in natural gas transportation technologies, where he was CFO and a senior advisor since 2013. In this role, he oversaw all operational finance activities within Westport, including financial management of ongoing business operations as well as investments; financial planning, forecasting and reporting; and developing and tracking key performance metrics. Prior to Westport, Achuthan spent 23 years at Siemens AG in Asia, Europe and North America, where his last position was Executive Vice President and Chief Financial Officer. He served in similar CFO roles at Cooper Industries Inc., ATC Technology Corp., and Coda Automotive.

'I'm excited to join Karma Automotive during its New Dawn, one of the most important times in its five-year history, as it prepares to debut three new products at Auto Shanghai 2019,' Achuthan said. 'I look forward to helping Dr. Lance and his leadership team share Karma's impressive engineering and design expertise and recruit business partners who can help the company accelerate technology and product development, and create new profit streams.'

Achuthan earned a Bachelor of Science degree from the University of Bombay, an MBA from Case Western Reserve University and is a Chartered Accountant.

Meet Karma Automotive and Karma Revero

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Karma Automotive designs, engineers, assembles and markets luxury electric vehicles, all from its Southern California base of operations. Founded in 2014 and employing nearly 1,000 people worldwide, Karma Automotive is committed to elevating and growing the luxury mobility experience for its customers and draws on global relationships and technology partners to achieve this. Named Green Car Journal's 2018 Luxury Green Car of the Year, Karma Revero is a luxury electric vehicle powered by dual electric motors that embodies the company's goals of offering leading automotive design, technology, customization and an outstanding customer experience.