TVR’s new British owners TVR Automotive Ltd have bought TVR back from Russian owner Nikolai Smolenski for an undisclosed sum.
Les Edgar, who fronts TVR Automotive Ltd, told Top Gear that the UK company have purchased the TVR name from former Russian owner Nikolai Smolenski who had split the brand and assets into several different companies after acquiring TVR in 2004.
Former owner Smolenski bought TVR for a reported £15m in 2004 but failed to build any new cars as production dwindled during a chequered ownership period. Edgar assured Top Gear that the new owners would keep the company firmly in automotive but admitted that non-disclosure agreements prevented him from releasing more details. He stressed that he and his associates would respect TVR’s British heritage.
“The starting point was ‘let’s get it back’,” he said. “There’s a huge amount of passion with the TVR brand. You’d be hard-pushed to find a British car brand that generates so much passion.”