Chinese-owned German brand Borgward has been declared bankrupt by a court in Beijing, China according to Foton, reports Automotive News Europe, The ruling was issued by the First Intermediate Peoples Court of Beijing, and Borgward is seeking court approval to liquidate its assets, Foton added.

Borgward was relaunched in 2015 at the Geneva Motor Show that year following its first bankruptcy in 1961, and the brand was once Germanys third-largest automaker. Prior to the brands 2015 relaunch, Foton purchased the rights to the Borgward brand for its expa…

Read the full article at: https://paultan.org/2022/12/05/borgward-declared-bankrupt-in-china-following-2015-relaunch-rm2-94-billion-loss-sustained-last-year/