Karma Automotive received a building permit for its Beach Boulevard electric vehicle dealership.
The city issued a permit May 25 for Ladson Construction Co. to convert a former furniture store at 11619 Beach Blvd. at a cost of $1.28 million.
Bul Auto Sales FL Inc., doing business as Karma Automotive, proposes to renovate the 15,950-square-foot store inside and out.
Vladimir “Val” A. Ranguelov is the president.
Ranguelov, Karma Automotive dealer principal, said previously he intends to invest $5 million to buy and build the electric vehicle dealership at northeast Beach Boulevard and Interstate 295.
Leverage Holdings Jax LLC, led by Ranguelov, bought the property Dec. 17, 2021, for $2.75 million.
The city issued a mobility fee calculation certificate for the project, determining $83,997 to mitigate the traffic impact. The project was shown as a 16,856-square-foot structure on about 1.4 acres.
Classic Home Furniture closed there. The property was developed in 1989.
Ranguelov said he selected the site for a Jacksonville dealership because it was one of the few options for where he wants to be.
California-based Karma Automotive’s site, karmautomotive.com, shows the Karma Jacksonville dealership as coming soon.
The city granted property owner Harbor Point Properties LLC a zoning exception and an administrative deviation for Karma Automotive Distribution LLC to operate a service garage for repairs and retail sales of new or used autos by a franchised dealer at the site.
The website says Karma Automotive, founded in 2014, is a Southern California-based producer of luxury electric vehicles.
It is based in Irvine, California, with a production facility in Moreno Valley.
Karma says its sells vehicles through a dealer network in North America, Europe, South America and the Middle East.
Karma says its Innovation and Customization Center, which opened in 2017, offers engineering, design, customization and manufacturing services along with electrification platforms.
Karma says its flagship vehicle, the Revero GT, Green Car Journal’s 2020 Luxury Green Car of the Year, is an electric vehicle powered by dual electric motors “that embodies Karma’s goal of offering leading technology with a luxury experience.”
In 2021 Karma announced the GS-6 Series, which include both an extended-range series hybrid EV and their first-ever all-electric vehicle. Every Karma vehicle is created with unparalleled individual care and craftsmanship, it says.
Karma says its parent company, Wanxiang Group, has been investing in U.S. auto and new energy sector for more than 20 years.
The organization provides parts for half of the vehicles produced in the U.S., employs more than 13,500 people and has operations in 26 states, including its subsidiary Wanxiang America, A123 Systems and Karma Automotive.
The Dun & Bradstreet Corp. data analytics company says Wanxiang is one of China’s largest auto parts manufacturers, makes universal joints, CV joints, bearings, brake discs, batteries and other car parts.
President Guanqiu Lu founded the company in the 1960s as a bicycle repair shop.