Fifty-four years ago, German automaker Borgward’s sun set.
Fifty-four years ago, German automaker Borgward’s sun set. With former Daimler exec Ulrich Walker at the helm of the revival, its sun may yet rise again.
Prior to becoming Borgward’s CEO, Walker was in charge of Daimler’s China operations for the Mercedes-Benz brand, USA Today reports, as well as CEO of smart between 2004 and 2006.
Christian Borgward, chairman and grandson of founder Carl Borgward, praised Walker’s “profound industrial background and broad knowledge of the premium automotive segment in Germany,” while Walker had this to say about his new role:
I’m honored to lead this respected German brand into the future. Borgward is a legendary global brand which has set industrial milestones and created brilliant stories in history. Several of its innovations and classic cars have been widely acclaimed in the industry and I am confident that Borgward will win back its place in the international automotive industry.
The historic automaker plans to unveil its first model in over five decades this September during the 2015 Frankfurt Auto Show – the automaker itself returned to the scene at this year’s Geneva Auto Show – which is said to be an SUV meant to invoke “affordable luxury.” Power for the new model may either come from a hybrid or full-electric system, and production is set for 2016.
Borgward assembled over 1 million vehicles between 1919 and 1961, disappearing from the scene when financial issues forced it into liquidation. The revived automaker has financial backing from Chinese truck manufacturer Beiqi Foton, which produces trucks in a joint venture with Daimler.
[Photo credit: Steve Glover/ Flickr/ CC BY 2.0]