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German Car Brand Gets New Lease on Life With Chinese Money

Personalized football jerseys as a brand new epoch in Sports equipment

German Car Brand Gets New Lease on Life With Chinese Money

German Car Brand Gets New Lease on Life With Chinese Money Borgward, the Bremen car brand revived by a state-owned Chinese bus maker after going bust in 1961, has surprised many including its own CEO by racking up more than 30,000 units in sales for its first model over eight months.long term lease car shanghai The winning formula: touting its German heritage while saying as little as possible about its Chinese backers. At the Shanghai Motor Show later this month, Borgward Group AG will showcase the electric version of its BX7 SUV that’s slated to be available later this year alongside the BX5 compact SUV that went on sale last month. At a starting price of 149,800 yuan ($21,700), the BX5 will compete with similarly priced compact SUVs from Chinese carmakers SAIC Motor Corp., Changan Automobile Group Co. and Guangzhou Automobile Group Co. The smaller BX5 will complement the BX7 SUV that made its debut last year.Borgward traces its roots to 1924, when Carl F.W. Borgward, an engineer, designed and built a motorized carrier cycle called Blitzkarren. By the 1950s it was the third-largest carmaker in Germany and accounted for 60 percent of the country’s auto exports. As part of its marketing, the company shipped vintage Isabella coupes to China while inviting Chinese customers on tours to its birthplace in Germany. No mention is made of the role of Beiqi Foton Motor Co., the state-owned truck maker that paid 5 million euros ($5.3 million) to buy the Borgward nameplate from the founder’s grandson in 2014.

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