TVR Likely to Restart Car Manufacturing

TVR Likely to Restart Car Manufacturing

Latest reports suggest that TVR could be back with a bang. This report is based on the owner’s announcement that the rights of the firm have been sold to a firm in the UK. Despite the credentials of the deal remain strictly undisclosed, this is enough to spark a rumor in the market. Previous owner Nikolai Smolenski (a Russian investor based out of Vienna) had previously given up hope of TVR ever restarting production, after spending huge sums of money and time behind prototypes designed by the company but finally coming up with the conclusion that the cost of production would be much greater than what the customers would be willing to pay for a vehicle.

The economic viability of the projects was the sole reason behind the firm scrapping major plans of production. TVR was reportedly bent on making major changes to the world of conventional engines by introducing portable turbines to power vehicles. However, the plan failed to kick off at the very beginning. Smolenski purchased TVR back in 2004 and made certain progress in the field of designing till 2006 when productions stopped altogether.

Difficulties marked his way throughout the two years although Smolenski moved to Austria and designed three prototypes for the company which had the potential to mark a new era for TVR. An Mk2 platform based Tuscan convertible sporting a Corvette engine displacing 400 BHP, a BMW twin turbo charged V8 powered diesel Cerbera and an electric engine powered GT350 were the three prototypes designed by the company during the time of closure.

Even though all the vehicles worked perfectly well, the cost of production was incidentally quite high. Each of the vehicles had to be sold within £100,000 and £200,000 which was not a very practical choice when the mass market is considered. This deterred the owners from producing the vehicle on a mass scale. Smolenski confirms that at one point of time, TVR was very close to striking a deal with Caterham to provide after sales service and part maintenance.

However, Smolenski lacked confidence when it came to the cars doing well in the market and as a result the deal was called off. Spare parts and after sales service of vehicles manufactured by TVR is still available in certain markets although new products are not available. Smolenski had earlier said that he did not plan on selling the TVR name although he was open to suggestions.

When asked about his sudden change of heart, Smolenski says that he was approached by many people but he refused as the TVR name had to maintain its authenticity. The latest deal however preserves the brand name of TVR and its heritage and Smolenski is reportedly happy with the way things are shaping up. Although any final word is yet to be given, it is understood that things are going considerably well for both parties regarding the deal and if an ownership change is on the cards, TVR could be back to manufacturing cars quite soon.

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