Stuttgart-based Borgward plans to enter the German market by the end of the year, it announced at the Frankfurt show.
“We are delighted that, following our successful start in China and other countries, we can now enter the German market,” said CEO Ulrich Walker.
Go deeper with GlobalData
The first units of the Chinese made, Foton based BX7 TS Limited Edition are expected to be delivered to customers in the fourth quarter. The model made its globl debut at Frankfurt in 2015, according to just-auto’s PLDB.
The limited run BX7 TS edition and, later, the BX7 plus the BX5 and the BX6 will initially be introduced in Europe with petrol engines. Further models under development will follow.
“Due to the constant customer demand and in order to increase the visibility of our brand and its products, we have decided to initially enter the market with a gasoline-powered version of the BX7 and the BX5,” Walker said. “However, it remains our goal to mainly sell electric vehicles once production commences in Bremen.”
At the IAA two years ago, Borgward announced that it would be entering the German market within the next two years. “We keep our promises,” Walker added.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Thank you!
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form
By GlobalDataBorgward plans to be innovative in sales and services. It is talking with ATU about “a concept for an innovative service cooperation” while Sixt Neuwagen, Germany’s leading platform for online distribution of new cars, will be the first online distributor for the revived brand in Germany.
“The partnership with Sixt Neuwagen corresponds to our idea of modern distribution that focuses on customer service and customer satisfaction,” said Tom Anliker, head of sales and services for Borgward Group.
The automaker has over 5,000 employees and said it had achieved its business targets to date, including revenues of over EUR1.5bn in the past year, in line with expectations, according to Walker.
Borgward plans to make a profit over the medium term. “We are doing well in spite of the high start-up costs for, among other things, the development of new models and the expansion of our facility in China.”
The company has received nearly 70,000 vehicle orders in China since it launched in the country with the BX5 and BX7.
It expects a further boost from entry to the Middle East, South America, and Europe as well as from the launch of new models such as the BX6 sports coupe and variants of the BX7 and the BX5.
At the show, Borgward also presented its Isabella concept which revives an old and popular nameplate last made between 1954 and 1962.
