TVR Sold - CONFIRMED!
Truth is often stranger than fiction...
Strong rumours are emerging today that TVR have come to a deal with a Russian investor.
Details are very patchy, with emails flying around the internet suggesting that the Blackpool company has secured a buyer and that details will be made public later today.
Latest statement from TVR:
We can confirm that a 100% shareholding in UK car-maker TVR has been purchased today. The new owner is Nikolai Smolenski.
Plans for the future are to continue trading, invest heavily in new technology and production methods, and hence enhance the TVR brand to become a global player.
There will be no large-scale restructuring and new managerial appointments will be made in due course. Peter Wheeler, previous owner, will remain on board as a senior consultant.
Surely one of TVR's major success points is that PW reports to noone and can make his own mistakes (and successes) at his own risk. If he's now playing with someone else's company (and investment) then he would have a rein on him...?
Mind you, some decent quality control and a reliable engine would certainly bring thousands back to the marque! I hope some elements to the rumour are true at least.
Ben
I'd have thought that IF PW has sold a lump (we have no idea if this is true and if it is how much he has sold) then the investor would want him to remain at the helm for a while. There will probably be some sort of earn out going on.
Maybe they'll invest in pre release testing.
D
In July 2004 Russia became the fifth European country where TVR brand car can be officially bought. TVR Engineering company has been producing extremely fast highway cars since the end of 1940-s. With acceleration dynamics compatible or even better than Ferrari and Lamborghini models, they are several times cheaper - about 100 thousand Euros. Popularity boom of these small batch sport coupes started in 1990 when the first powerful rear wheel drive TVR Griffith 500 was represented in Birmingham for the first time; the car accelerated to 270 km/h. Tuscan will be the first TVR car in Russia. The model with 450 hp engine and weighing only 800 kg accelerates to 300 km/h.
, with Comrade Wheeler at the helm...... pikey said:
Doesn't quite add up to me... why would they sell it and leave PW in charge?
It would appear that PW will be a 'Senior Consultant' - significantly different to being in charge IMHO.
The 'new managerial appointments will be made in due course' statement is more telling. Suspect the two may not be compatible?
>> Edited by tannertime on Tuesday 27th July 14:38
Don said:Or keep them the same sort of price to avoid competing with 911s and the baby Aston and produce a OK car with no soul, ala Boxster, TT, Z4...
Going to invest in new technology?
TVRs with ABS, traction control, stability management, airbags, active safety systems, galvanised chassis.
TVRs which cost 25% - 50% more to pay for all of that.
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