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Tesla Competitor Is Now Accepting Bitcoin (BTC) for Its Exotic Luxury Car

October 16, 2019

Luxury automotive brand Karma is now accepting Bitcoin as a payment method.

Manufacturer of the exotic hybrid sports car Revero, the Southern California-based company is opening its flagship location in Newport Beach, California to Bitcoin and crypto enthusiasts who want to spend their BTC on luxury electric vehicles.

According to the announcement, Karma Newport Beach is now accepting Bitcoin as a form of payment for new vehicle sales as well as service performed at the facility.

Karma CEO Dr. Lance Zhou says,

“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use.”

A Tesla competitor, the luxury sedan features a three-cylinder engine sourced from BMW to deliver 535 horsepower (up from the previous 403 hp) and 550 pound-feet (746 Nm) of torque.

Karma’s 2020 Revero GT luxury electric cars will be on display at 4040 Campus Drive – a 10-mile drive from Tesla’s location at 367 Newport Center Drive.

“The 15,000-square foot building includes enough floor space to showcase close to 20 new Revero GTs and certified pre-owned Reveros. The company also plans to add a Customization Center, a state-of-the art vehicle and photo staging area, VVIP concierge service (given the dealership’s proximity to John Wayne Airport), and a detail center.”

An even newer performance-based variant of the Revero GT will be unveiled later this year.

While pricing hasn’t been released, Motor1 estimates that the 2020 Revero GT will clock in around $130,000, comparable in price to the previous model.

Karma is also positioning itself as a high-tech incubator. Announced at Shanghai International Blockchain Week 2019, the company says it’s partnering with Wanxiang Group, its primary shareholder, to explore commercial applications of Bitcoin and to co-develop blockchain trends.

Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.