Three years after hybrid sports car manufacturer Fisker Automotive laid off the majority of its workforce, the company is back in business with a new Chinese owner and plans to unveil a luxury electric car this summer.

Renamed Karma Automotive, the electric car maker has moved from Finland to California and is working on a new car to be named the Revero, according to the Wall Street Journal. Chief marketing officer Jim Taylor was vague on the exact timing, saying only that the car will be announced in July or August, and orders will begin later this year.

"If you manufacture all kinds of hype then fail to deliver on time, it undermines your credibility," Taylor told the Journal. "We are being careful about making promises [because] things happen in car development."

The caution is understandable given the company's history. Its original car, the $100,000 Karma plug-in hybrid, won praise from celebrity customers and a $529 million loan from the Department of Energy to offset development costs. But the loan was frozen due to delays in launching the car, and Fisker laid off 75 percent of its workforce to avoid bankruptcy.

Taylor said about 80 percent of original Karma owners still have their cars; the new company will provide them service and upgrades. Karma's website lists a handful of locations where current owners can get their cars serviced, mostly in the Northeast, Florida, and California.

Related Fisker Automotive Lays Off 75 Percent of Workforce

The new Revero will keep the exterior styling of the Karma, designed by Henrik Fisker, while licensing BMW technology for the electric vehicle control and charging systems, according to the Journal.

Other than that, details about the car are scarce, and it appears that Karma is still working out much of the design. More than 100 open jobs are currently listed on the company's careers page, most of which are for engineers and designers.

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