Borgward plans German comeback by end of this year
Former German brand Borgward, now owned by Chinese truck manufacturer Foton, is planning a comeback on the German market by the end of this year. First cars will be delivered to customers in the fourth quarter, Borgward’s board chairman Ulrich Walker announced on Tuesday in Frankfurt.
It will be a limited version of the BX7 SUV, later followed by the standard BX7, the BX5 and the BX6, starting with petrol engines. Borgward, with its headquarters in Stuttgart (Germany) already sells cars in China and other countries and realized a turnover of more than 1,5 billion euro in total, says Walker.
Former Daimler exec
Ulrich Walker (65), a former Daimler executive heading the Chinese branch, joined Borgward in 2015 to revive the brand. For many years Borgward used to be one of the most famous German brands, building more than 100.000 cars a year, with the Borgward Hansa 1500 sedan and the Isabella TS coupe as some of its most popular models.
In total more than 1 million Borgwards were build between 1919 and 1961, when the company went bankrupt. Christian Borgward, grandson of the company’s founder, Carl F.W. Borgward, announced the plans to revive the brand at the Geneva motor show in March 2015. At that time he didn’t want to reveal the name of Foton backing up the revival.