FRANKFURT, Germany, September 15, 2015 /PRNewswire/ --
- The Stuttgart-based group unveils two world premieres at the IAA: the BX7 SUV and
the TS version of the BX7
- Medium-term sales target of well over 500,000 vehicles a year
- Company with rich heritage announces further new models
Market launch in Germany and the rest of Europe within the next two years
The time-honoured German automobile brand BORGWARD is returning to the world stage. BORGWARD has unveiled two world premieres at the International Motor Show (IAA) in Frankfurt am Main: the BX7 SUV and the TS version of the BX7. "Our goal is to turn BORGWARD back into the major international automobile manufacturer that it was in its heyday," said Ulrich Walker, CEO of BORGWARD Group AG, in Frankfurt am Main on Tuesday.
Walker said that BORGWARD is scheduled to be launched in Germany and the rest of Europe sometime within the next two years. The company is to introduce its first vehicles to the Chinese and other emerging markets in the first half of 2016. Walker described the current developments on the Chinese market as a process of normalisation. "China remains a growth market," he added. The first BORGWARD plant has already been completed in Beijing.
The market launch in China and further emerging markets will only be the beginning. "Our goal for the medium and long term is to be present not only in China and Europe but in all the other major markets as well - and, in particular, in the emerging economies," said Walker. The entry into new markets and the achievement of corresponding sales volumes will be accompanied by the establishment of new production locations.
In the medium term, BORGWARD is targeting global sales of significantly more than 500,000 vehicles. In addition, the product portfolio is to be continuously expanded over the coming years, with at least two new models presented for market launch every year. Initially, the SUV family of vehicles is to expanded, with other segments to follow later. "The BORGWARD family will be competitive," said Walker. "And our business model is based on sound financial and strategic foundations," he added with reference to the brand's continuing commitment to the basic values that already applied in the time of company founder Carl F. W. Borgward.
As in the past, BORGWARD stands once again for outstanding engineering and design, and for quality, innovation, sustainability and affordability. "It's what we call 'accessible premium'," said Walker.
Similarly, in terms of design, the aesthetic shapes of the new BORGWARD embody the traditional values of the BORGWARD brand and help create the modern self-confidence of superior vehicles. BORGWARD models also combine the most advanced communication and entertainment systems with an extensive online service. BORGWARD likewise employs the very latest connectivity systems to enhance the driver's safety and comfort. Outstanding product quality combined with uncompromising reliability and extreme longevity will ensure that upcoming model series become classics of the future.
And, last but not least, sustainability is firmly anchored in BORGWARD's corporate goals. For example, BORGWARD is in favour of an electric drive train. Initially, BORGWARD is launching the BX 7 PHEV - a plug-in hybrid model that will lead the way in the mid-size SUV segment, by offering, for example, excellent driving performance and competitive electric ranges.
BORGWARD Group AG
70174 Stuttgart, Germany
Head of Global Communications
Telephone +49-711-794-785 1000/1009
BORGWARD Group AG