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| Spyker hopes new car will spark revival | Spyker hopes new car will spark revival |
| (3 days later) | |
| When Dutch sports car manufacturer Spyker unveiled its latest model at the Quail Motorsports Gathering in California's Pebble Beach last month it was about more than just a car. | |
| The B6 Venator Spyder, a two-seater with rear lights modelled on the jet engines of modern fighter planes, represents Spyker's battle for survival. | The B6 Venator Spyder, a two-seater with rear lights modelled on the jet engines of modern fighter planes, represents Spyker's battle for survival. |
| Currently the company makes just one type of car - the C8 Aileron - and it produces only one a week, hand built to a customer's precise specifications in its Netherlands-based factory of only 45 people. | Currently the company makes just one type of car - the C8 Aileron - and it produces only one a week, hand built to a customer's precise specifications in its Netherlands-based factory of only 45 people. |
| This type of customisation doesn't come cheap. The C8 sells for around 200,000 euros (£169,200) and with production coinciding with the 2008 global financial crisis, it's not surprising that demand has been slow. | This type of customisation doesn't come cheap. The C8 sells for around 200,000 euros (£169,200) and with production coinciding with the 2008 global financial crisis, it's not surprising that demand has been slow. |
| Its two new models - the B6 Venator Spyder car and the B6 Venator Coupe, launched in Geneva in March - are aimed at changing all of this. Both will be significantly cheaper with the B6 Venator Spyder expected to sell for about £120,000 and the B6 Venator Coupe for £110,000. | Its two new models - the B6 Venator Spyder car and the B6 Venator Coupe, launched in Geneva in March - are aimed at changing all of this. Both will be significantly cheaper with the B6 Venator Spyder expected to sell for about £120,000 and the B6 Venator Coupe for £110,000. |
| "All of a sudden you get into an area where tens of thousands of potential buyers are available," says chief executive Victor Muller. "It's a statement to the market that we have come back with a vengeance and that we're here to stay. It's much more than just a new car. It symbolises the new Spyker." | "All of a sudden you get into an area where tens of thousands of potential buyers are available," says chief executive Victor Muller. "It's a statement to the market that we have come back with a vengeance and that we're here to stay. It's much more than just a new car. It symbolises the new Spyker." |
| Mr Muller says the cars will be a "game changer" for Spyker's business model because it will take it from being a niche car manufacturer to a mid-market one. | Mr Muller says the cars will be a "game changer" for Spyker's business model because it will take it from being a niche car manufacturer to a mid-market one. |
| It plans to ramp up production next year to between 250 and 500 cars a year, up to 10 times the 50 cars it is able to produce currently. | It plans to ramp up production next year to between 250 and 500 cars a year, up to 10 times the 50 cars it is able to produce currently. |
| Fight for survival | Fight for survival |
| Just two years ago, the company was close to going under. Its 2010 purchase of Saab - one of Sweden's best-known car brands - failed spectacularly. Less than two years after shelling out $74m (£47.7m) for the brand, Saab went bankrupt, almost taking Spyker down with it. | Just two years ago, the company was close to going under. Its 2010 purchase of Saab - one of Sweden's best-known car brands - failed spectacularly. Less than two years after shelling out $74m (£47.7m) for the brand, Saab went bankrupt, almost taking Spyker down with it. |
| "It was the biggest setback of my business career. It was like losing a very close relative," says Mr Muller. | "It was the biggest setback of my business career. It was like losing a very close relative," says Mr Muller. |
| Spyker was forced to seek outside help. Eventually it secured a deal with Chinese car manufacturer Youngman, which agreed to invest 10m euros (£8.5m) in Spyker and contribute a cool 25m euros in cash to fund its development of a new sport utility vehicle (SUV). | Spyker was forced to seek outside help. Eventually it secured a deal with Chinese car manufacturer Youngman, which agreed to invest 10m euros (£8.5m) in Spyker and contribute a cool 25m euros in cash to fund its development of a new sport utility vehicle (SUV). |
| This came at a price however, with Spyker having to relinquish almost a third of the business (29.9%) to Youngman. | This came at a price however, with Spyker having to relinquish almost a third of the business (29.9%) to Youngman. |
| "It's a very simple sacrifice to make that you will give up some of your autonomy in favour of sheer existence," says Mr Muller. | "It's a very simple sacrifice to make that you will give up some of your autonomy in favour of sheer existence," says Mr Muller. |
| "We wouldn't be here if we didn't have third-party investors. It's as simple as that. | "We wouldn't be here if we didn't have third-party investors. It's as simple as that. |
| "So it's really not a compromise. I was willing to do anything and everything for Spyker to survive and become a viable business again," says Mr Muller. | "So it's really not a compromise. I was willing to do anything and everything for Spyker to survive and become a viable business again," says Mr Muller. |
| 'Hard ride' | 'Hard ride' |
| The problems of the past two years echo what has been a bumpy history for the company since its revival in 2000. Its financial restructuring in 2012 produced its sole profit in its 13-year history. And its ill-fated ownership of an Formula 1 team in 2006, which Spyker sold on a year later at a massive loss, also almost took the company under. | The problems of the past two years echo what has been a bumpy history for the company since its revival in 2000. Its financial restructuring in 2012 produced its sole profit in its 13-year history. And its ill-fated ownership of an Formula 1 team in 2006, which Spyker sold on a year later at a massive loss, also almost took the company under. |
| "It's been a very hard ride but self-inflicted and we made it very hard," says Mr Muller. | "It's been a very hard ride but self-inflicted and we made it very hard," says Mr Muller. |
| The new models mark Spyker's last chance. | The new models mark Spyker's last chance. |
| "Without it, it's difficult to see how the company could continue to grow or exist with just a few dozen cars here or there," says John Walton, former vice-president of Aston Martin, who joined Spyker as its chief commercial officer last year. | "Without it, it's difficult to see how the company could continue to grow or exist with just a few dozen cars here or there," says John Walton, former vice-president of Aston Martin, who joined Spyker as its chief commercial officer last year. |
| Whether the new cars will succeed in finally turning Spyker into a profitable car maker is still uncertain. Production of both the new models will only start next year. | Whether the new cars will succeed in finally turning Spyker into a profitable car maker is still uncertain. Production of both the new models will only start next year. |
| And as Tim Urquhart, senior analyst at IHS Automotive, says, there is a long way to go before then. | And as Tim Urquhart, senior analyst at IHS Automotive, says, there is a long way to go before then. |
| "Spyker still has to find a distributor and dealership in all the major countries including the US, Europe and China," he says. | "Spyker still has to find a distributor and dealership in all the major countries including the US, Europe and China," he says. |
| However, Mr Urquhart is cautiously optimistic. "These kind of cars are always going to be a slightly marginal business. But I think that it's a car that could sell and find a market." | However, Mr Urquhart is cautiously optimistic. "These kind of cars are always going to be a slightly marginal business. But I think that it's a car that could sell and find a market." |
| Featured on both cars in small lettering is Spyker's motto - the same one it's had since 1914: "Nulla tenaci invia est via" meaning: "For the tenacious no road is impassable", something Mr Muller will be hoping the company lives up to. | Featured on both cars in small lettering is Spyker's motto - the same one it's had since 1914: "Nulla tenaci invia est via" meaning: "For the tenacious no road is impassable", something Mr Muller will be hoping the company lives up to. |
| Escape from the Boardroom is a five-part series, starting on 21 September, broadcast on BBC World News on Saturdays at 02:10 and 15:10, and Sundays at 09:10 and 21:10 (all times GMT). |