Germany’s recently resurrected Borgward carmaker will soon enter the UK and Ireland markets.
Stuttgart-based Borgward Group AG sees the United Kingdom as “a key part of its global expansion plan.” The company has agreed to form a strategic partnership with automotive sales specialist International Motors and parent company IM Group Ltd, who will be importing Borgward vehicles to the British and Irish markets.
A Memorandum of Understanding (MoU) was signed on Wednesday confirming the intention of IM Group’s Nordic and Baltic businesses to bring Borgward SUVs to the UK and Ireland.
Over the past three years, Borgward has pursued a “go-west” strategy. The manufacturer started building cars in China and then expanded into more than a dozen countries around the world, including South East Asia, Russia, and the Middle East. It also marked the return to the German market this summer.
Now, the company has made clear its intentions to return to the United Kingdom as well with a range of “accessible premium SUVs.” The first Borgward models to arrive on British shores are likely to be the petrol-engined BX5 and BX7 crossovers. However, the brand wants to sell their electric versions, the BXi5 and BXi7, as well, once production starts in China.
Borgward is expected to start production of right-hand drive variants in early 2019 as it forecasts a UK launch towards the end of next year. Pricing, specifications and lineup information will be released closer to the market launch.
Despite this announcement, things haven’t exactly been great for Borgward. Last month, a report emerged about parent company Beiqi Foton Motor looking to sell a 67-percent stake in the German brand. Moreover, it has been losing quite a lot of money lately amid dwindling sales. As of August 2018, Borgward sustained a loss of more than 1.6 billion yuan ($231.5 million) as sales declined 23 percent year-to-year.
Note: Borgward BXi7 pictured