If Dutch car company Spyker were an animal, it clearly would be a cat considering how many lives it has already gone through. Now, the on-again/off-again sports car manufacturer claims it is ready for yet another revival.
Originally founded in 1880, Spyker went bust in 1926 but was revived decades later by Dutch entrepreneur Victor R. Muller. Since 2000, it has rolled out a small number of largely hand-built sports cars. But it has been plagued by a series of seemingly endless financial setbacks that put it into bankruptcy last year.
Now, Muller says, the company has ended this year with a new deal from an investor group that should end “a few very tough years.”
“The collaboration agreement which we confirmed today is the starting point to rebuild Spyker as a sports car manufacturer with a more solid foundation than ever before, and with ample access to better technical and financial resources than we ever had,” Muller said in a statement released hours before the clock ran out on 2021.
A wannabe automaker stumbles — repeatedly
Trained as a lawyer but making his fortune in a series of business, including shipping, Muller is a self-described car nut and a wannabe automotive designer and manufacturer. He has tried repeatedly to establish himself in the business, not only be reviving the Spyker name after three quarters of a century but also attempting to nudge into a more mainstream segment.
Muller headed an attempt by Spyker to take over the Swedish Saab brand when General Motors decided to sell it off before emerging from bankruptcy a decade ago. The deal quickly went sour and not only did Saab shut down but the abortive venture effectively crippled Spyker. Further complicating matters was an ill-conceived effort to launch a Formula One program.
In the interim, Muller lined up a series of partnerships and alliances hoping to bring the Dutch-based company back, but it couldn’t keep operations running beyond a hit-or-miss basis.
In and out of bankruptcy
Muller took Spyker into bankruptcy in 2012. It briefly emerged, only to fall into the Dutch equivalent of Chapter 11 again in January 2021.
Ironically, the most recent filing came after a fallout between Muller and an investment group led by Russians Michail Pessis and Boris Rotenberg. They’re now the same backers who plan to fund Spyker’s revival in 2022. What’s changed — at least from a financial perspective — isn’t clear. But the partners now plan to significantly update Spyker’s distinctive sports cars.
”We really look forward to become a part of this new chapter of the epic Spyker brand. Our group of companies will launch the Spyker brand successfully in the league of the world’s best super sports cars,” said Rotenberg.
Product plans fluid
The Russian investor group has already “developed and produced” a number of prototype models and, it appears, future production of the carbon-bodied models will take place at a facility in both Russia and the Netherlands. Engineering will be split between Russia and Germany, and the corporate main office will be operated out of Luxemburg.
During the past decade, Muller has shown off a number of prototypes but it is still unclear what products actually are in the company’s future.
In his statement, the Dutch entrepreneur hinted, “In a world dominated by electrification there is an undiminished demand for real sports cars, the ones that tantalize all senses. We will continue to cater for that group of enthusiasts in particular. Of course we will offer hybrid solutions in our future models but the V-8 (internal-combustion engine) remains at the heart of every Spyker for many years to come.”
Ever since Muller tried to bring Spyker back, the company has produced a total of just 265 sports cars — but lots of headlines.
Paul, Victor is a really nice guy and very likable. I spent quite a bit of time with him in the mid 2000’s.
Unfortunately Victor like many before him who tried their hands at manufacturing elite super cars never had the financing and engineering support to make it successful. And GM royally screwed him when they sold him Saab.
Indeed. They really didn’t want the brand to survive.
Paul E.