Spyker supercars UK manufacturing plans crash out

Posted on 7 Mar 2012 by Tim Brown

Plans to make Spyker supercars in the UK have been canned following the collapse of a deal between CPP Global Holdings and Swedish Automobile.

Coventry-based CPP Global Holdings had an option to buy Dutch supercar firm Spyker from Swedish Automobile – which was itself planning to buy Saab.

The auto division of Saab was sold in 1990 to General Motors who, in turn, sold it to Spyker Cars N.V. in 2010 as part of their brand shedding. Spyker, now renamed Swedish Automobile, is a Dutch company that was founded in 1999 to design and manufacture supercars.

In February 2011, Spyker signed a provisional deal to sell its sportscar arm to UK-based, Russian-owned, CPP Global Holdings for around 32m euros ($44m; £27m).

Both the Saab and CPP deals have not eventuated and Swedish Automobile has confirmed it willmake Spykers in the Netherlands, not Coventry. In addition, in a statement on Monday evening, Swedish Automobile said it plans to refocus on its luxury car arm and change its name back to Spyker.

This comes after CPP Global Holdings sold its CPP Manufacturing arm out of administration to fellow Coventry-based business Envisage Group.

A release from Swedish Automobile states: “As a result of the situation which arose due to CPP’s administration it has been decided to assemble Spyker C8 Ailerons in the works facility in Zeewolde, Netherlands (where the production of Spyker’s C8 Spyders and Laviolettes continued in the past two years) rather than in the UK.”

Envisage has launched a new company, Envisage CPP, meaning that more than 100 jobs have been retained at the former CPP head office on the Seven Stars Industrial Estate.