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Posts Tagged ‘spyker cars’

Spyker Averts Asset Auction – Still Faces Financial Trouble

But Dutch sports carmaker still has plenty of challenges ahead.

by on Jul.07, 2014

The Spyker B6 Venator concept still hasn't made the jump to production.

It’s been a tough few years for the Dutch sports carmaker Spyker, but the company and CEO Victor Muller may have gotten a much-needed reprieve.

For those who might not recall the name, Spyker was the little upstart that took a big gamble by purchasing Saab, the Swedish car brand parent General Motors was planning to shut down after its own 2009 bankruptcy. But that venture didn’t fare very well, Saab lasting less than two years under the new arrangement before going belly up.


Muller and crew decided to re-focus their efforts on their exotic sports car business, showing off several concept vehicles intended to bring the company a place at the table alongside such competitors as Ferrari and Aston Martin. But financial problems have continued to plague Spyker and it looked like the company was going to have to auction off a significant chunk of its assets to satisfy Dutch tax authorities.


Saab’s Last Sob: Judge Tosses $3 Bil Lawsuit Against GM

Appeal uncertain.

by on Jun.12, 2013

The end of the line for Saab.

A federal judge has tossed out a lawsuit seeking $3 billion in damages from General Motors, accusing the U.S. giant of taking illegal steps that ultimately led to the failure of Swedish automaker Saab.

The suit was filed last August by Spyker cars, the Dutch firm that bought Saab from GM in 2010.  Spyker’s effort was soon revealed to be underfunded and it quickly went looking for outside investors, including several Chinese companies that were interested in taking a stake in Saab or perhaps taking over the failing Swedish maker. But GM blocked the sale by refusing to allow Saab to transfer its intellectual property to the Chinese.

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Saab’s only products, at the time, had been developed by GM and largely used the U.S. maker’s components.

“General Motors had a contractual right to approve or disapprove the proposed transaction,” declared U.S. District Court Judge Gershwin Drain, following a hearing in Detroit. “The court is going to grant a motion to dismiss the matter.”


Spyker Strikes Back

Freed of Saab, Muller reviving exotic sports car brand.

by on Mar.08, 2012

Victor Muller inside one of his Spyker exotics.

“I’m a reborn man,” proclaims Victor Muller, as he wanders the PALExpo Convention Center during the first press day at the 2012 Geneva Motor Show.

A year ago, the Dutch entrepreneur was at the annual event pulling the covers off the Saab Phoenix concept car – and hoping to line up financial support to keep that struggling Swedish carmaker in business.  Now Saab is dead, Muller severing all ties and turning it over to the bankruptcy courts.

But while some folks might have taken that as a cue to vanish from the automotive headlights, not Muller, who could be found drifting through the sprawling conference center saying hello to old friends and giving the inside scoop on life post-Saab.

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The most significant news? The ever-upbeat Muller has decided to scrub plans to sell off his other automotive company, the Dutch-based Spyker Cars.

“I’m excited to get back into this business,” he says, explaining that he has largely worked through the “huge liabilities” he incurred during what he calls “the Saab era.”


Muller Selling Spyker, Concentrating on Saab

Former Russian partner snaps up sports car maker for $21 mil.

by on Feb.24, 2011

Image By: Len Katz

Victor Muller will focus his attention exclusively on Saab, now.

Intending to focus his energies on his struggling Swedish car operations, Victor Muller is selling off his tiny Dutch sports car company, Spyker.

Muller, who purchased Saab Automobile just over a years ago, will be paid $21 million for Spyker, but could get about $25 million more over the next six years, depending on the success the brand has under its new owners.

The purchaser is Russian businessman Vladimir Antonov, who had previously been Spyker’s chairman and key investor, with a 29.9% stake.  Antonov was forced out of the company when Muller when Muller began discussing the acquisition of Saab from its former owner, General Motors, which refused to negotiate while the Russian oligarch was involved.

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Originally founded a century ago, Spyker collapsed in 1925, the name revived by Muller a decade ago.  It produces an assortment of sleek supercars priced around $200,000 apiece.  In 2009, the last year for which sales numbers are available, the company, based in Zeewolde, Netherlands, sold a total of 36 vehicles.

Spyker went public in 2004 and has consistently lost money since then.


Former Spyker Partner Cleared Of Corruption

Vladimir Antonov could now return to Saab-Spyker.

by on Dec.17, 2010

Former Spyker exec Vladimir Antonov is cleared of corruption charges and could now join Saab-Spyker.

Vladimir Antonov, Saab owner Victor Muller’s former business partner, has been cleared of the corruption charges that had forced him out of the bidding for the Swedish Automaker.

Swedish newspaper, Dagens Industri, has reported Antonov was cleared after a Swedish government investigation found no evidence of corruption involving the Russian businessman.

Antonov was a key backer of Muller and his Dutch-based sports car company, Spyker, and was planning to play a role in the purchase of Saab, which General Motors was going to sell or close after its 2009 bankruptcy.  But after questions arose about the Russian’s possible involvement with crime syndicates, Muller said General Motors forced him to abandon his established partnership with Antonov in order to complete his bid for Saab.

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A prerequisite for the deal was that Vladimir Antonov stepped down as Chairman and majority shareholder in Spyker due to allegations of illegal business and money laundering.

Based near Gothenberg, Saab was in the midst of shutting down when Muller – minus Antonov – was able to complete the acquisition, earlier this year.


First Look: 2010 Spyker Aileron Spyder

There’s more to Holland than tulips and wooden shoes.

by on Aug.17, 2009

With the addition of the new Aileron Spyder, the Dutch supercar maker, Spyker, hopes to gain real traction in the market.

With the addition of the new Aileron Spyder, the Dutch supercar maker, Spyker, hopes to gain real traction in the market.

Among the nations likely to turn out a new supercar, one has to admit The Netherlands isn’t at the top of the list.  Mention Holland and you’re more likely to think of tulips, wooden shoes, a little Dutch boy or maybe the hash houses of Amsterdam.  But if Victor Muller has his way, you’re going to have to revise your thinking.

Muller’s small development team has already delivered some surprises since his start-up automaker was launched, nearly a decade ago.  The original Spyker Spyder was a high-priced, super sports car with the manners of a go-kart and the performance of a muscle car.

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With the launch of the more sophisticated Aileron Coupe, Spyker aimed to firmly establish itself as a serious alternative to the likes of Ferrari and other, better-established supercar manufacturers.  Now comes the Spyder, a $235,000 open-top version of the two-seater.