Foton needs cash for Borgward
Borgward's Chinese owner, Beiqi Foton, seems little inclined to put (much) more money in the German brand it revived. It is looking for investors who want to buy two thirds of Borgward's equity. The phoenix of the German car brands got off to a good start in China, where it will soon be hitting the 100,000-units sold mark.
In the meantime, the BX7 is also on sale in Germany, with Luxemburg and other markets following soon, and the all-electric BXi7 (pictured) is rolling off the production line in the People's Republic. Foton is planning on building a factory in Borgward's native Bremen, which will inflate the investment bill even further. So far, Borgward has made a loss of €200 million.