Borgward, a defunct German company revived by the Chinese in 2014, filed for bankruptcy a second time. The company hopes to merge into the mainstream with one line crossand it planned to open a factory in Europe, but its sales have plummeted in recent years.
Industry trade magazine European Automotive News Written that Beijing’s First Intermediate People’s Court declared Borgward bankrupt in November 2022. The publication added that Borgward had asked the court for permission to liquidate his assets, but details were not available. bankruptcy proceedings have not been announced. Beiqi Foton Motor, one truck manufacturer under the state-owned BAIC Group, which purchased Borgward in 2014.
Borgward return statement in February 2015, showcasing a classic Isabella coupe a month later at Geneva Motor Showand introduced its first modern model in Frankfurt that year car show. Called the BX7 (pictured), the crossover debuted with an overall design and a promising trunk, including a pledge to return to Europe by the end of 2017. While a handful of umbrellas are available Auto seems to have arrived in Germany, the brand focuses largely on the Chinese market and broadens its range with crossovers named BX3, BX5 and BX6 respectively.
Secure a foothold in a market as large and crowded as of China easier said than done. Borgward’s annual deliveries peaked at around 55,000 units in 2019, according to European Automotive News, but has dropped to just 3,600 in 2021. Sales in Europe are just a rounding error. The report notes that Borgward posted losses totaling more than 4 billion yuan (over $564 million) from 2016 to 2018.
That’s the end for Borgward, unless investors save it by surprise. While the company’s future plans are vague, it’s gone until 2017 frankfurt auto show donate a concept called Isabella previewed a design language that might have permeated the scope.
This is Borgward’s second trip to the temple of automotive history. The company was once very popular in Germany and briefly sold cars in the United States, but it ran into financial problems in the 1950s and filed for bankruptcy in 1961. Mercedes-Benz ended up with the company’s Bremen, Germany plant after a series of takeovers and is now under construction Grade C and GLC there.
