Zenos Cars, which went into administration three months ago, has found a group of buyers for the company’s assets securing a future for the marque. The new owners are a collection of investors, some of whom include the backers of another British sports car manufacturer, AC Cars.
The administrators who were tasked with finding a buyer for the sports car company, Begbies Traynor, have said they were approached by number of investors. The consortium, who eventually acquired all of the assets of Zenos Cars Limited, has done so for an undisclosed sum.
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AC Cars continues to make the Cobra, now called the MkVI, and has recently expanded its range by making a right-hand drive version of its roadster. It unveiled the new car at this year’s Autosport show and showed it has an appetite to continue to develop this iconic performance car.
With experience in funding sports car manufacturers, the new consortium of investors intends to increase the sales, and possibly Zenos Cars' model range. A spokeperson for the investors said, ‘Our team is convinced that Zenos Car's E10 range provides an excellent platform for international sales success and we look forward to moving forwards with exciting plans for its development and growth’.
Zenos went into administration earlier this year after a ‘recent downturn in trade’. A host of cancelled overseas orders in late 2016 caused a lack of funds and the company had to cease trading.
Established in 2012, Zenos set out to create a lightweight and affordable sports car. The result was the E10, a Ford EcoBoost-powered two-seater roadster unveiled at the 2014 Autosport International. The E10 was followed by the E10 S and then the R. Each car used an extruded aluminium backbone combined with a tub made from recycled carbonfibre that sandwiched a plastic honeycomb centre. The structure was both light and very rigid. It was then topped with plastic bodywork that was designed to be replaced easily if damaged on a track day. Each Zenos model has been impressive and made genuine rivals to the established British sports cars from Lotus, Caterham and Ariel.