Photo: Morgan
Founded in 1910 by Henry Frederick Stanley Morgan, the British automaker known for three-wheelers and wooden body panels is heading into the 2020s with a different owner. Most of the company now belongs to Investindustrial, which owns a stake in Aston Martin Lagonda and Ducati.
The deal will be completed in April 2019, and despite the change in ownership, expect Morgan to deliver the same type of cars as always. The 2019 Geneva Motor Show marks the introduction of the Plus Six with the BMW inline-six turbo and CX-Generation vehicle architecture, previewing what lies ahead for the Malvern-based automaker from Worcestershire.
“To really fulfill Morgan’s full potential and secure our long-term future, both the family and management team, felt it was essential to bring in a strategic partner,” said Dominic Riley, chairman of the Morgan Motor Company. “A partner that shares our vision and has the expertise, financial resources, and track record of success in the automotive world, to make it happen.”
Both the management and employees will have a share of the business, a model that’s certain to work wonders for the automaker’s expansion plan and financial stability. In 2018, Morgan posted revenues of £33.8 million and a net profit of £3.2 million, having sold in the ballpark of 700 cars.
The Morgan family agreed to work closely with Investindustrial to widen the lineup, and as you’d expect, the unique heritage of Morgan won’t take make a 180-degree turn. The most obvious change, given time, will be the electrification or models other than the EV3.
“We have followed the company and seen its progress for some time and see significant potential for Morgan to develop internationally whilst retaining its hand-built heritage,” declared Andrea C. Bonomi, chairman of the Industrial Advisory Board at Investindustrial.
In related news, Morgan is currently developing the successor to the Aero 8. Managing director Steve Morris made it clear the newcomer’s platform “can also cope with the predicted demands of electrification.”
“To really fulfill Morgan’s full potential and secure our long-term future, both the family and management team, felt it was essential to bring in a strategic partner,” said Dominic Riley, chairman of the Morgan Motor Company. “A partner that shares our vision and has the expertise, financial resources, and track record of success in the automotive world, to make it happen.”
Both the management and employees will have a share of the business, a model that’s certain to work wonders for the automaker’s expansion plan and financial stability. In 2018, Morgan posted revenues of £33.8 million and a net profit of £3.2 million, having sold in the ballpark of 700 cars.
The Morgan family agreed to work closely with Investindustrial to widen the lineup, and as you’d expect, the unique heritage of Morgan won’t take make a 180-degree turn. The most obvious change, given time, will be the electrification or models other than the EV3.
“We have followed the company and seen its progress for some time and see significant potential for Morgan to develop internationally whilst retaining its hand-built heritage,” declared Andrea C. Bonomi, chairman of the Industrial Advisory Board at Investindustrial.
In related news, Morgan is currently developing the successor to the Aero 8. Managing director Steve Morris made it clear the newcomer’s platform “can also cope with the predicted demands of electrification.”
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