According to a recent report, Wanxiang has decided to rebrand Fisker as Elux.

Citing two people familiar with the matter, Reuters is reporting the Chinese company has decided to drop the Fisker name altogether. As a result, the updated Karma will be called the Elux Karma.

The sources declined to give a reason for the name change but it likely has to due to the sheer amount of baggage that Fisker has accumulated over the years.

In related news, Reuters is reporting the updated Karma will cost approximately $135,000 when it is launched in mid-2016. The publication also says Wanxiang is still deciding where to build the car but has already ruled out Finland's Valmet Automotive.