TVR Sold

[robert]

TVR's Peter Wheeler has sold the company to Russian businessman Nikolai Smolenski. The following statement was issued by TVR.



Peter Wheeler today (Tuesday 27th - Ed) sold 100 per cent of the shares of UK car maker TVR to Nikolai Smolenski. Based in the north west of England, TVR is the leading British sportscar manufacturer and is unique among companies of its size in that it designs and manufactures in house its own range of engines to power its spectacularly designed range of sportscars.

The company employs 400 people in Blackpool and new investment in the factory and the technology therein will bring great benefits to both the cars and the workforce.

"I am very enthusiastic about the potential of TVR and am grateful for the opportunity to become a car manufacturer," explains Nikolai Smolenski. "I have always been a fan of British car manufacturing and believe that the best automotive designers and engineers are in this country."



Founded in 1947 and built up over the last 23 years by Peter Wheeler, TVR's profile has grown dramatically over the last ten years. "It's been a fascinating time and I shall be very sad when I eventually leave," said Wheeler earlier today. "However, it's time to hand the reins over to a younger man and I look forward to helping him with his exciting plans."

Peter Wheeler remains on board as a senior consultant overseeing styling and engineering. Plans to bring the new Sagaris and Tuscan 2 models into production continue unchanged and the first demonstrators of both cars will be arriving in dealerships in the UK, Japan, mainland Europe and South Africa over the next couple of months.

[mclark]

They better keep building the Sagaris as I had my test drive booked in for Sept!!!!

[Robin427]

It's a shame that probably the biggest British car manufacturer has now passed into foreign hands.

Let's hope GD and the rest don't follow suite... they're all we have left!!

[simon]

I'm bloody annoyed.
You're not telling me that somebody in the UK couldn't have come up with 15million and had the balls to buy the company and keep it British!
They'll be telling us next that Rolls Royce, Bentley, Aston Martin and Lotus will be sold to a foreign investor.....how ridiculous!

[crendonman]

At least we have Nissan, Honda and Toyota still being manufactured here!!

[simon]

Yes, thank goodness for the British car industry!

[kdavies3]

Jaguar, Aston Martin and Landrover all owned by Ford.

I think they are American aren't they?

MG Rover is probably the only truely British manufacturer left.

[kdavies3]

Yes Ford, You Know that mob who build their engines with the dissy at the wrong end.

[Grease Monkey]

Lotus was bought by Kia or Proton or somesuch malysian company a few years back, they then promply set about cloning the 90's Elan and rebadging it a Kia ZoomZoom or whatever.

However sales did not go well as some daft local law meant you weren't allowed to drive with the hood down, and part of the sales agreement with Lotus was that they weren't allowed to sell the clones in current Lotus markets.

D'Oh

[crendonman]

Hey Kev,

Is the starter motor at the wrong end as well - I wonder??