Listen to this article
Out of nowhere, Borgward returned to the automotive scene in the second half of 2015 after being dormant for more than half a century. However, its revival was not a direct successor to the old German company. Chinese automaker Beiqi Foton Motor, a subsidiary of BAIC Group, bought the rights to the moniker and logo in 2014 to create a new automaker. There were plans for a factory in Bremen, but those never materialized.
Borgward sold the BX3, BX5, BX6, and BX7 gasoline-fueled crossovers in China where an electric version of the BX7 was also offered. Sales peaked in 2019 when about 55,000 units were delivered before plummeting to just 3,600 units last year. From 2016 to 2018, the automaker suffered losses amount…
Read the full article at: https://www.motor1.com/news/624976/borgward-declared-bankrupt/