Borgward will be reborn thanks to the Chinese manufacturer Beiqi Foton
- Borgward was a German automobile manufacturer which grouped together three brands (Borgward, Goliath, Lloyd), it had a factory in Bremen which was closed in 1962, due to serious financial difficulties. In the late 50s, it produced 90 000 vehicles per year, making it the third German manufacturer behind Volkswagen and Opel. Borgward was positioned in the European market as a premium manufacturer, fairly close to what BMW became later on.
- After fifty years (the founder of Borgward disappeared in 1963), the Chinese manufacturer Beiqi Foton (linked to BAIC Group, which already manufactures Mercedes) has acquired the rights to the German brand, Borgward's heirs having sold the name to the Chinese manufacturer.
- Beiqi Foton considers that the Premium market will grow significantly in China over the next decade, following a spending power enhancement of middle classes, and the fact that the premium market is overly focused and monopolized by too few brands, that are mostly foreign. Creating a Premium Chinese brand from an old and famous European name seems like the best option. The proposed production site is located in Sanshui in the Guangdong Province. The first models (100% Chinese design) should be presented in 2016. Beiqi Foton has great ambitions for the future Borgwald brand, hoping for hundreds of thousands annual sales.
Contact us: info@inovev.com