 | This article has multiple issues. Please helpimprove it or discuss these issues on thetalk page.(Learn how and when to remove these messages) (Learn how and when to remove this message)
|
 | |
| Industry | Automotive[1] |
|---|---|
| Founded | 1999; 26 years ago (1999)[2] |
| Founders | |
| Headquarters | , |
Key people | Peter van Erp,COO[4] |
| Products | Sports cars[1] |
| Revenue |  €6.1 million (2012)[5] |
| (€13.8 million) (2012)[5] | |
 (€114 million) (2012)[5] | |
| Total assets | €0.1 million (2012)[5] |
Number of employees | 37 (FTE, average 2012)[5] |
| Parent | Spyker N.V. (1999–present)[6] |
| Website | spykercars |
Spyker Cars (/ˈspaɪkər/,Dutch pronunciation:[ˈspɛikər]) is a Dutchsports car brand held by theholding companySpyker N.V. (formerly known asSpyker Cars N.V. andSwedish Automobile N.V.). The modern Spyker Cars company held the legal rights to thebrand name.[2] The company's motto is "Nulla tenaci invia est via",Latin for "For the tenacious, no road is impassable".[2] The marque's logo displays an aircraftpropeller superimposed over a spoked wheel, a reference to the historicSpyker company that manufactured automobiles and aircraft.[7] In 2010, the company acquired Swedish car manufacturerSaab Automobile fromGeneral Motors.[8][9]
In an attempt to save Spyker from bankruptcy, Swedish Automobile in September 2011, announced the immediate sale of Spyker toNorth Street Capital for€32 million (US$41 million),[10] and subsequently changed its name to Swedish Automobile N.V.[11] However, it was later revealed that the transaction did not occur.[12]
On December 18, 2014, Spyker confirmed that it had gone bankrupt, hoping to restructure its finances and get back on its feet.[13] The bankruptcy declaration was reverted early 2015 and the company announced to continue with the production of sports cars.[14] In 2021, it went bankrupt again.[15] In January 2022, Spyker announced a return to building cars after being backed by Russian investors.[16]
.jpg)
In 1999, the reborn company was founded byVictor Muller andMaarten de Bruijn, and since 2000, Spyker has been building sports cars like theC8 Spyder and the C8 Laviolette.[17] Spyker's history of producing aero engines is incorporated in the details in these new cars as well as in the logo.[17] The first car built by de Bruijn was theSpyker Silvestris prototype, which inspired the C8 model.
The C8 Laviolette and C8 Spyder have a 4172 cc Audi V8 engine delivering 400 bhp (298 kW; 406 PS), acceleration 0–60 mph in 4.5 seconds and a top speed of 300 km/h (190 mph).[18][19] On July 14, 2005, Spyker announced that the C8 had been approved for sale in theUS market.[20][21]
Between 2002 and 2006, Spyker built the C8 Double 12 S, which was available from the factory with 5 different levels of performance called Stage I (400 h.p.) through Stage V (620 h.p.), depending on the customer's need for performance.[22]
Between 2003 and 2007, Spyker built the C8 Spyder T, with theTwin-turbo system developed in conjunction withCosworth inEngland.[23] These engines were capable of 525 h.p. and 0–60 mph acceleration times of 4.0 seconds.[24]
In 2005, the headdesigner and founder,Maarten de Bruijn, left the company and founded Silvestris Aquamotive, which buildsaluminumspace framespeed boats.[25][26]
In 2006, Spyker built theC12 La Turbie with a V12 engine capable of 500 horsepower and acceleration from 0–60 mph in less than 4 seconds.[27][28]
In September 2006, Spyker acquired theMidland F1 team,[29] which subsequently competed in the final three races of the2006 season as Spyker MF1. In the2007, the team competed asSpyker F1 using engines supplied byFerrari. DriverAdrian Sutil was paired withChristijan Albers until theEuropean Grand Prix, after which the latter was replaced by reserve driverMarkus Winkelhock; the team then signedSakon Yamamoto to fill in the slot for the rest of the year. The team itself had minimal success, suffering from multiple retirements (including double retirements inMalaysia,Canada andBrazil) before Sutil scored the team's first and only point inJapan. At the end of the season, the team was sold to a consortium named "Orange India" led byVijay Mallya and was subsequently renamed asForce India.[30]
On May 27, 2004, Spyker Cars listed on theEuronext Amsterdam Stock Exchange at €15.50, falling to a low of €8.28 in April 2005.[31] The stock rebounded sharply in early 2006 to over €22 per share.[32][33] Early in 2007 the stock showed a sharp decline to levels beneath €13 because of financing issues.[31] As a result, several stock issues were announced to big investors. Notably, all shares have been sold at higher prices than the market price at the moment of announcement.[citation needed] On November 13, 2005, Spyker Cars andMubadala Development Company, a principal investment company wholly owned by the government of theUnited Arab Emirates,[34] announced their strategic alliance, with Mubadala acquiring 17% of Spyker.[35] Mubadala has a strong relationship with sports cars, also controlling 5% ofFerrari.[36][37]
In 2007, Spyker, in collaboration with the Italian car-design firmZagato, produced theC12 Zagato, based on the C12 La Turbie, but with a restyled body, increased performance, and the Zagato trademark double bubble roof.[38][39] This is perhaps the most exclusive Spyker car to date.[40]
In November 2009, Spyker announced that it would be moving production fromZeewolde toWhitley, Coventry, where assembly would be done in partnership with CPP Manufacturing.[41][42] UK production began in February 2010.[43] Due to the bankruptcy of SAAB and a falling out with its business partners, the production was not moved to the UK.
In late November 2009, following the collapse ofKoenigsegg Group's acquisition ofSaab Automobile fromGeneral Motors (GM), Spyker placed a bid of its own to acquire Saab.General Motors (GM), receptive to the offer, entered into negotiations with Spyker and conducted an extensivedue diligence effort. From this, they learned that the Swedish monetary and security agencies had uncovered ties between the family of Vladimir Antonov—a major Spyker shareholder—and organized crime syndicates engaged in money laundering. In part due to this, GM ended negotiations with Spyker on December 18, stating that it would begin a staged wind-down of operations at Saab Automobile in January if a buyer for it couldn't be found.[44]
Spyker CEO Victor Muller revived the deal by revising the company's acquisition bid and acquiring Antonov's shares via Tenaci, another company he owned.[45][46] On January 26, 2010, Spyker reached an agreement with GM to purchase Saab for US$394 million,[47][48][49] comprising US$74 million in cash and US$320 million in Spyker stock, subject to regulatory and government approval. General Motors would continue to supply Saab with engines and transmissions, and would produce the newSaab 9-4X at GM's Mexican factory. To pay the upfront acquisition cost, Spyker took out a loan from the European Investment Bank and borrowed $US25 million from Convers Bank, owned by former investor Vladimir Antonov.[50]
On February 23, 2010, Spyker completed its acquisition of Saab Automobile and announced it would restructure to make both Spyker and Saab subsidiaries of a parent company called Swedish Automobile.[51][52] The restructure was completed on June 15, 2011, when shareholders agreed at the company'sannual shareholder meeting to change its official name from Spyker Cars N.V. to Swedish Automobile N.V.[11]
By the end of 2010, however, Saab Automobile ran out of money, and Spyker was unable to fund the losses. The companies stopped paying their bills in early 2011, resulting in the halting of production on March 30 due to suppliers refusing to deliver parts on credit.[53]
In February 2011, it was announced that Swedish Automobile, the Dutch owner of Saab Automobile, agreed to sell its sports car unit toVladimir Antonov. Antonov, a former Spyker chairman and shareholder, was expected to pay €15 million (US$21 million) for the company.[54][55] However, in March 2011, the deal fell through,[56] with Spyker's manufacturing partner CPP Manufacturing placing a bid, but this deal fell through later that month.[57][58]
On June 8, 2011, Saab Automobile said it had stopped production due to an insufficient supply of parts. This occurred only two weeks after resuming production following a seven-week hiatus. The supply of parts stopped because Saab did not pay its suppliers. Production was due to start again on August 9.[59]
On June 23, Saab announced that it was unable to pay June salaries to the entire workforce of 3,800 due to lack of funding.[60][61] The trade unionIF Metall gave Saab seven days to pay the salaries to their employees; otherwise,IF Metall threatened to force a liquidation of the company.[62][63] On June 29, Saab employees were paid.[64]
Swedish Automobile initially tried to secure funding in May 2011 via proposed joint ventures with Chinese automotive manufacturersHawtai andYoungman, and the Chinese car dealership chain Pang Da. As negotiations had not progressed by September, Swedish Automobile offered to sell its Spyker Cars division to the Americanprivate equity firmNorth Street Capital for €32 million (US$41 million), but was declined.[65][66] Saab Automotive submitted adebt restructuring plan that would put the company on track to have positiveequity by 2014 via a process that would involve terminating 500 employees to save €110,000,000.[67] The proposal was accepted by a Swedish court on October 31, 2011.[67]
On October 28, 2011, Swedish Automobile announced that it would sell Saab Automobile for €100 million (US$140 million) to Youngman and Pang Da, who would acquire 60 and 40 percent of Saab's shares, respectively.[68][69][70] On November 7, GM rejected the deal with Youngman and Pang Da to prevent them from benefiting from technology Saab had licensed from it. On December 19, following a month of unsuccessful negotiations with GM, Saab Automobile filed for bankruptcy due to being unable to find another company to acquire it.[71][72][73] Swedish Automotive attempted to prevent the liquidation of Saab by putting Spyker Cars up for sale again, but was unable to find a buyer.[12][74]
On 16 April 2012, a meeting regarding Saab's bankruptcy was held at the District Court of Vänersborg.[75] The official receivers in charge of the Saab liquidation valued its assets and debt at US$500 million and US$2 billion, respectively, leaving it with a debt of US$1.5 billion.[76] In June 2012 the company was sold to the Chinese-Swedish investment groupNational Electric Vehicle Sweden (NEVS),[77] after which Swedish Automotive N.V. was renamed Spyker N.V.
On August 6, 2012, Spyker announced that it would sue GM over the Saab bankruptcy,[78] with CEO Muller stating, "Ever since we were forced to file for Saab Automobile's bankruptcy in December of last year, we have worked relentlessly on the preparation for this lawsuit which seeks to compensate Spyker and Saab for the massive damages we have incurred as a result of GM's unlawful actions." In June 2013, the US$3billion claim was heard inDetroit,Michigan before US federal Gershwin Drain, who dismissed it on the basis that "General Motors had a contractual right to approve or disapprove the proposed transaction" due to Spyker having given GM the right to veto any change of ownership in the Saab acquisition agreement.[79] Spyker's appeal of the ruling was heard at the 6th U.S. Circuit Court of Appeals in Cincinnati on October 24, 2014. Judge Eugene Siler ruled in favor of GM, stating that the company's blocking of the sale of Saab had not been malicious, but rather based upon "legitimate business concerns" about who would benefit from Saab's use of GM technology.[80]
On August 27, 2012, Spyker announced that Youngman had acquired a 29.9% stake in the company for €10 million (US$12.5 million).[81][82][83] Two joint ventures between Spyker and Youngman were announced, Spyker P2P and Spyker Phoenix, with Spyker having 25% and 20% stakes in them, respectively.[84] Spyker P2P would develop new luxury sports utility vehicles,[83] while Spyker Phoenix would develop a range of premium cars based on theSaab PhoeniX platform.[83]
In March 2013, theB6 Venator was unveiled at theGeneva Motor Show, the B6 Venator was noted as Spyker's first concept car in nearly four years.[85]
On September 16, 2013, Spyker N.V. lost its listing onEuronext Amsterdam after failing to undergo a restructuring agreement.[86]
On November 5, 2014, the Central Netherlands District Court ordered Spyker to leave the factory it had been renting within seven days and pay its owner €152,000 in overdue rent.[87] The claim was made by Jacques Walch, the owner of the factory rented by Spyker. Despite this, CEO Victor Muller insisted the company would be able to pay its bills "in a matter of days".[88]
On 2 December 2014, Spyker NV was granted a moratorium of payment (financial restructuring) by the Central Netherlands District Court. Spyker needed protection from creditors for its liquidity problems. Victor R. Muller, Spyker founder and chief executive, said "Over the past few years, Spyker has faced a number of serious difficulties and challenges resulting from, among others, the legacy of the F1 era and the acquisition of Saab Automobile AB".[89]
On December 2, 2014, Spyker filed a voluntary petition to financially restructure ("surseance van betaling") to address short-term operational and liquidity challenges, the Dutch equivalent ofChapter 11 bankruptcy.[90] The Central Netherlands District Court initially declared the company bankrupt on 18 December, but reversed course on January 29, 2015, after Spyker appealed the decision. The court granted Spyker's petition and appointed an administrator to work with the Board of Management in managing the company's affairs until the completion of its restructure. The court's ruling granted the company amoratorium of payment to protect its assets from seizure by creditors for the duration of the restructure.
On May 13, Spyker closed a deal with the creditors—to whom it owed a combined €44 million—to pay them €12,000 each. Saab GB, the largest creditor with €24.9 million at stake, agreed to receive a payment of €61,000.[91] A later attempt by the Latvian bank Lizings to claim more money was declined by the court.[92][93]
On July 29, 2015, Spyker completed its restructuring plan and resumed regular business operations.[94] In March 2016, Spyker announced the production of a new model, the C8 Preliator, at theGeneva Motor Show.
In January 2021, Spyker filed for bankruptcy again.[95] Mr. D. Steffens had been appointed trustee in bankruptcy.[96]
In 2023, trustee Steffens announced that he might file charges against Muller for bankruptcy fraud. At that time, Spyker no longer had a production site, personnel, parts and tools. These have been laid off, sold or disappeared at an earlier stage. Only trademark rights and intellectual property remain.[97]
In the August 2025 bankruptcy report, trustee Dennis Steffens announced the sale of the trademark rights of Spyker. This made a restart by Muller impossible and meant an important step in the final liquidation of the Spyker company.[98]
.jpg)
TheC8 Spyder was the original base model with anAudi 4.2 litreV8 engine. Since the start of its production in 2000, twelve different variants have been sold. A long-wheelbase version was presented at the 2008 Geneva Motor Show, called the C8 Aileron. A year later, a convertible version was presented.[99] Horsepower ranges from 400 for the original C8 Spyder to 620 for the C8 Double 12S.
The most recent model, the C8 Preliator, was officially announced at the2016 Geneva Motor Show. Only 50 vehicles will be produced. The car has a 4.2lsupercharged Audi V8 producing 525 hp, resulting in a 0–100 km/h time of 3.7 seconds and a top speed of 322 km/h. The car either comes with a 6-speed manualGetrag or a 6-speedZF automatic transmission. As with previous Spyker models, the car has typical aviation-inspired design elements such asNACA styled air-inlets. Driver technology has been upgraded as well compared to previous models, with the C8 Preliator gaining aheads-up display andbluetooth connectivity for phones.[100][101]
The Spyker C12 is a luxury sports car of which there were two variants.[99] Spyker originally planned a small production run, but only one prototype of each car was built.
In 2006, theSpyker D12 Peking-to-Paris high-performanceSUV, was announced at theGeneva Motor Show.[102] But the mass-production, which was slated for a mid-2008 production, was delayed and the V12 engine from the concept car has been changed to aVolkswagen W12 engine at around 500 bhp (373 kW; 507 PS). Its name was then changed to the D8.[103]
Spyker hoped that the assistance ofSaab, which they owned at the time, would help the D8 reach production.[103] According to Muller in April 2011, the D8 should have started production in early 2013, with a price tag of£186,000.[104] However, in March 2013, production was scheduled for 2016, with a production prototype due by 2014.[85] Eventually, plans to produce the model were discontinued.
Spyker shareholders and CEO,Victor Muller hinted at aMaserati Quattroporte,Porsche Panamera rival with an eight-cylinder (the E8) or a twelve-cylinder (the E12) engine but due to problems getting theD8 into production, the idea was ignored until 2009 when Muller has said he "believes now could be the time to resurrect the saloon".[105] Muller believed it would take about four years from the time that theE8/E12 is revealed to actual production. It was never produced, however.[105]
Spyker's all-time high was achieved in 2006, with 94 cars sold; about 290 cars were sold between 2000 and 2010.[106][107][108]
| Calendar Year | Total Sales |
|---|---|
| 2000 | 1 |
| 2001 | 2 |
| 2002 | 3 |
| 2003 | 12 |
| 2004 | 31 |
| 2005 | 48 |
| 2006 | 94 |
| 2007 | 26 |
| 2008 | 43 |
| 2009 | 36 |
| 2010 | "Pending" |
| 2011 | 12 |
| 2012 | 2 |
| 2013 | 0 |
| 2014 | 0 |
Spyker lost money each year since 2007. This table summarizes the key figures of Spyker Cars from 2007 to 2012. The figures originate from the Spyker Annual Report in 2011 and 2012.[5]
| Year | Turnover | Company- result | Net result | Capital | Stock per year end | Number employees inFTE (x 1) |
|---|---|---|---|---|---|---|
| 2007 | €5,1 | € -29,7 | € -71,3 | €25,6 | 9,7 | 166 |
| 2008 | €7,9 | € -21,8 | € -24,8 | €24,9 | 15,6 | 132 |
| 2009 | €6,8 | € -19,2 | € -22,9 | €2,6 | 15,9 | 131 |
| 2010 | €3,3 | € -64,1 | € -218,3 | € -206,5 | 17,5 | 55 |
| 2011 | €1,5 | € -13,8 | €16,1 | € -151,2 | 36,0 | 56 |
| 2012 | €0,7 | € -6,1 | €114,4 | €0,1 | 373,9 | 37 |
| 2014 | €0,0 | €0,0 | € -44,0 | €0,0 | 0,0 | 0 |
| 2015 | €0,0 | €0,0 | €0,0 | €0,0 | 0,0 | 0 |
On September 9, 2006, Spyker boughtMidland F1 Racing, aFormula One team from Canadian businessmanAlex Shnaider. Spyker paidUS$106.6 million for the team[109] which was renamedSpyker MF1 Team for the last three races of the 2006 Formula One season. As part of the deal, the cars had a revised livery for the final three races of 2006.
On August 14, 2007, Spyker Cars announced that it would have to sell all or part of the team due to a potential split of the team from its parent company.[110]
On September 3, 2007, Indian billionaireVijay Mallya (chairman and CEO of Toyota sponsorsKingfisher Airlines) and Dutch entrepreneurMichiel Mol (Spyker's Formula One Director), stated the Spyker board had accepted their offer and became the new owners of the SpykerFormula One team,[111] which was renamed asForce India Formula One Team for the 2008 season.
The Spyker Squadron was the factory racing team, competing in events such as the24 Hours of Le Mans, theLe Mans Series, occasional entries in theFIA GT Championship, and the12 hours of Sebring. Spyker also supplied a car to Swiss Spyker distributor, Speedy Garages, running under the name Speedy Racing Team.
| Domestic manufacturers | |
|---|---|
| Foreign manufacturers registered in the country | |
| Active volume-production factories | |
| Motor racing constructors | |
| Solar racing teams | |
| Components manufacturers | |
| Automotive design | |
| Defunct manufacturers | |
| Defunct motor racing | |
| Other | |
| |
