This could be an important move for Karma. It has remained a niche brand ever since Chinese car part maker Wanxiang Group revived the original Fisker in 2014, selling roughly 1,000 Reveros in 2019. Lower-priced electric trucks would give it a much wider audience, especially in North America where pickups are popular.

It's going to face stiff competition, however. The most conspicuous challenger is Tesla's Cybertruck, but Karma will also have to challenge Rivian's R1T, GM's still-mysterious pickup and the eventual electric Ford F-150. These are mostly big names that have extensive experience with EV technology and large-scale truck manufacturing, and it'll be no mean feat to compete on both fronts.