California-based luxury electric car maker Karma Automotive has begun accepting digital currencies as a form of payment at one of its stores in Newport Beach.
Karma Newport Beach is now enabling customers to pay for new vehicles and related services with bitcoin, according to an Oct. 15 company press release. Karma CEO Lance Zhou said when announcing the new product.
“We are opening up our platform as a test bed to help translate theoretical blockchain applications into practical use. Karma’s flagship store will support our work to demonstrate emerging technologies and provide the latest VVIP customer treatment products.”
Chinas Wanxiang Group bought Karmas assets from Fisker Automotive in 2014 for $149.2 million. The company started producing its flagship Revero in 2016, and the new model retails for more than $135,000. The Revero can reportedly go up to 37 miles before recharging.
Cryptocurrencies have entered the luxury industry as a form of payment. In September 2018, Swiss luxury watch brand Hublot released the Big Bang Blockchain watch, which can only be purchased with Bitcoin.
Other high-end watches from Franck Muller also have integrated cryptocurrency wallets. Franck Mullers crypto wallet watches retail for anywhere from $9,800 to $50,600.
Automakers around the world have been experimenting with crypto-based blockchain technology, while Ford Motor Company is investigating blockchain and geo-fencing technology to accurately track the number of green miles driven by its fuel-efficient vehicles. BMW, General Motors, Ford, Renault and Honda have begun testing a blockchain car identification and payment system in the US.
The original text comes from cointelegraph, compiled by the Bluemountain Labs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
The original text comes from cointelegraph, compiled by the Bluemountain Labs team, the English copyright belongs to the original author, please contact the editor for Chinese reprint.
