News Karma Automotive accepts payments in Bitcoin at flagship store

Karma Automotive accepts payments in Bitcoin at flagship store


- Advertisment -

Californian luxury electric car manufacturer and high-tech incubator Karma Automotive announced Tuesday that it now accepts payments in Bitcoin at its flagship store in Newport Beach, California. 

The auto manufacturer will accept payments in the cryptocurrency for buying and servicing vehicles at the store. The advancement is the result of a partnership with its primary shareholder, Wanxiang Group, a collaboration that was announced at Shanghai International Blockchain Week 2019.

“We are opening our platform to serve as a test bed to help convert theoretical blockchain applications to practical use,” said Karma CEO Dr. Lance Zhou.

At the 15,000 square foot shop floor, customers can buy the plug-in hybrid Revero GT and certified pre-owned Reveros using Bitcoin, with the 2019 model starting at $130,000 (or around 16.4 BTC in today’s money). 

Be the first to get Decrypt Members. A new type of account built on blockchain.

Early access

“Karma’s flagship store will support our efforts to prove emerging technology and provide the latest VVIP customer treatment offerings by accepting Bitcoin cryptocurrency,” added Zhou.

This is the latest in a string of blockchain announcement from the automotive industry in recent days. Earlier this week, American car manufacturer Ford revealed plans to extend the trial of a new blockchain-based system to Cologne. Using the system, hybrid vehicles would automatically switch from petrol engines to electric engines in city centres. 

And last week, the Mobility Open Blockchain Initiative (MOBI), an industry group including car manufacturers Ford, Honda, BMW, Renault and GM, announced plans to start development on a blockchain-based system that would allow cars to pay for parking tickets and highway tolls.




Please enter your comment!
Please enter your name here

Latest news

What’s the future of decentralized blockchains?

When Bitcoin was new and not valued at anything or just a few cents anyone could join...

My 5 favorite free crypto tools & sites I use daily

So I often get asked by friends, or people visiting my site about new tips for exciting...

Cryptocurrency is The Last Kingdom Where You Can Keep Your Data Private

Data privacy has been a hot topic for quite some time now and particularly after the popularity...

How To Travel With Bitcoin: 9 Travel Companies Accepting Bitcoin

Bitcoin travel is a reality, as several travel companies now accept payments in cryptocurrencies for their services.
- Advertisement -Karma Automotive accepts payments in Bitcoin at flagship store

Top 5 Ways To Build a Profitable Business in The Crypto Sector

The crypto industry has grown significantly despite criticism and a skeptical approach from regulators across the globe....

These 8 Cryptocurrencies Will Survive the Next Decade

Cryptocurrency is the future, we all have reasons to believe it. But are people ready...

Must read

- Advertisement -

You might also likeRELATED
Recommended to you