German car manufacturer Borgward, which went bankrupt back in 1961, is set to make a revival according to reports from German media. Leading the company’s return is Christian Borgward, the grandson of Carl Borgward who was the original founder. Borgward, with the help of several investors including key Asian players, will base the new operations at the company’s original home in Bremen, Germany.
In a report from Edmunds, the reformed company will produce two new models positioned somewhere between the standard Ford Mondeo and premium BMW 3-series. Further, Borgward is preparing a business case for a volume of 10,000 cars annually, although there are major issues concerning distribution networks.
The most likely outcome will see development and production outsourced to key component suppliers. Apparently Borgward is already in talks with Austria’s Magna-Steyr, which currently produce vehicles for BMW and Fiat among others.