Photo: Zenos
Zenos Cars, the British company that is known for its lightweight models, was in financial administration, but was acquired by a consortium that is led by AC Cars.
You might recognize the latter’s name, as they build the reborn AC Cobra. The deal sounds like it was "made in Heaven," but there are many details to discuss.
The transaction was done two months after the Zenos company went under administration, and the consortium now owns all of its assets, intellectual property, and even a stock of 10 completed vehicles.
As Autocar notes, the transaction’s details were not publicly revealed. The other investors in the consortium were not named, but at least we know that a deal was done, and that another company that builds cars has acquired the low-volume marque.
The resulting products will “probably be named AC Zenos,” instead of just Zenos, but it is still good news that this company has not disappeared off the face of the Earth.
Alan Lubinsky, the owner of AC Cars, has told the British magazine that a major problem with Zenos is the cost of production for its models. It is unclear if he meant the labor costs, supplier prices, or the overall situation, but he might compare things to the AC Cars factory in South Africa.
The current Zenos factory in Norfolk will be evaluated for cost effectiveness, and if the results will be terrible, production is expected to move to the AC Cars facility. Zenos’ new owners refrained from announcing where they will build future models.
The two companies will join forces for economies of scale, which could come from supply deals, joint production, and a shared dealer network. Regardless of the case, both Zenos and AC Cars will try to cut unnecessary expenses wherever they can, but this will be a priority for the former.
Fortunately, the new owners of Zenos are euphoric with the products this company has built so far, and they congratulate the creators of the cars made in Norfolk. The engineering of Zenos models was described as “fantastic,” and the current car will continue to exist.
The transaction was done two months after the Zenos company went under administration, and the consortium now owns all of its assets, intellectual property, and even a stock of 10 completed vehicles.
As Autocar notes, the transaction’s details were not publicly revealed. The other investors in the consortium were not named, but at least we know that a deal was done, and that another company that builds cars has acquired the low-volume marque.
The resulting products will “probably be named AC Zenos,” instead of just Zenos, but it is still good news that this company has not disappeared off the face of the Earth.
Alan Lubinsky, the owner of AC Cars, has told the British magazine that a major problem with Zenos is the cost of production for its models. It is unclear if he meant the labor costs, supplier prices, or the overall situation, but he might compare things to the AC Cars factory in South Africa.
The current Zenos factory in Norfolk will be evaluated for cost effectiveness, and if the results will be terrible, production is expected to move to the AC Cars facility. Zenos’ new owners refrained from announcing where they will build future models.
The two companies will join forces for economies of scale, which could come from supply deals, joint production, and a shared dealer network. Regardless of the case, both Zenos and AC Cars will try to cut unnecessary expenses wherever they can, but this will be a priority for the former.
Fortunately, the new owners of Zenos are euphoric with the products this company has built so far, and they congratulate the creators of the cars made in Norfolk. The engineering of Zenos models was described as “fantastic,” and the current car will continue to exist.
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