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Artega GT

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Paragon AG buys Artega, production cars discontinued

Back in July, the future of Artega was cast into doubt after the automaker filed for insolvency. Well, the good news is someone has bought the company. The bad news is they didn’t buy it to build cars.

Recently, Paragon AG took over all of the assets of the insolvent Artega Automobil GmbH & Co. KG with one caveat: they have no plans to resume production of Artega’s sports car, the Artega GT.

Instead, Paragon AG plans to use its newly acquired resources in staff and space to continue to develop its new Electromobility and Body-Kinematics divisions. The acquisition of Artega also lets Paragon AG to take full control of the company’s stage, enabling the latter to double its development team to 40 employees.

In a press release announcing the purchase, Paragon AG laid out its plans for Atria, including the use of the latter’s former headquarters in Delbrück, Germany to set up their own technology center, as well as expanding prototype construction, setting up a bespoke application service for customers, and manufacture products on a larger scale.

"We are therefore strengthening operations at our headquarters in the long term and ensuring job security for the future," said Klaus Dieter Frers, Chairman of the Managing Board.

Hit the jump for the full presser.

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Small German firm, Artega files papers for insolvency

Small German firm, Artega files papers for insolvency

Artega is quite well-known for its plucky little GT sports car which has been in production since 2007. However, the company has fallen into dire straits recently filing for insolvency with the local courts in Paderborn, Germany.

In an official statement regarding the issue, Artega stated “This step was necessary from a business perspective, for months after the proposed sale to an Asian investor had failed at the last minute. Together with the insolvency administration is now talking with other investors will be taken to find a solution for Artega, and its 34 employees. The operations will continue in full.”

The crippled brand has been looking for investors for months, and the above Asian investor pulled out for unknown reasons, thus leaving the company with nowhere to go.

For those of you not familiar with the term “insolvency” it basically means Artega is unable to pay off its debt, and may signal the end of the company as we also expect bankruptcy to be filed in the coming months, unless a lifesaving investor comes out to purchase the company.

This is extremely sad news for the company, and the shaky economic conditions in Europe are likely to be partly responsible for Artega being unable to pay off its debt. Furthermore, Artega was developing atarga version of the Artega GT and these latest developments may mean the end of the GT all together.

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2013 Artega GT Targa

2013 Artega GT Targa

A year after Artega dropped the new GT and GT SE on our laps in Geneva, the German automaker returned to the scene of the crime with a targa version of their hard-top sports car.

The highlight of the Targa version is, of course, the top. The GT Targa comes with a removable panoramic glass roof that is said to be easily stowed behind the seats. Artega is watching customer feedback very closely on this feature and if all goes well, a production model will follow this concept.

As far as power goes, the Artega GT Targa will carry a 4.6-liter V6 engine mated to a six-speed DSG transmission to produce 300 horsepower. This allows the sports car to go from 0-62 mph in just 4.8 seconds with a top speed of 167 mph.

While Artega has been mum on how much it’s going to take to buy the GT Roadster, we do expect it to be in the neighborhood of the €75,000 price tag of the Artega GT. Convert that to greenbacks and you’re looking at a price of just under $100,000.

UPDATE 03/09/2012: This review has been updated with official specs and photos.

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TopSpeed's Best of 2011: Geneva Motor Show

TopSpeed’s Best of 2011: Geneva Motor Show

The Geneva Motor Show is one of the biggest shows of the year and the 2011 event certainly did not disappoint. With over 70 cars lined up and ready to take our breaths away, choosing our favorites between them all was not an easy task.

Sure, there were some easy choices, like the brand spanking new Lamborghini Aventador or the Jaguar XKR-S, or brilliant tuning projects like the ABT R8 GT S. Then there was the job of tossing out the not-so-brilliant vehicles like theMitsubishi Global Small or the rather useless Rinspeed Bamboo. The 2011 Geneva Motor Show brought out cars from one side of the spectrum to the other, and rifling through them took some time. Some may not agree with our choices and that’s okay. However, everyone can appreciate a beautiful or highly efficient car when they see one, and we’ve gathered some exceptional specimens to share.

Hit the jump to check out our choices for the Best of the 2011 Geneva Motor Show.

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2011 Geneva Motor Show Recap

2011 Geneva Motor Show Recap

Now that the 2011 Geneva Motor Show has come and gone, it goes without saying that the event was arguably the biggest and most successful auto show since the 2009 IAAs in Frankfurt, Germany.

Some might contend that, but as far as we’re concerned, its been a while since we had an auto show that has been as widely attended by almost all automakers in the world quite like what we saw in Geneva.

And while we may have been introduced to a lot of the cars that were launched in Geneva beforehand, there were still some models, mostly of the concept variety, that took us by surprise.

Most of these models weren’t previewed before the event so when the Geneva Motor Show opened its doors, just about everybody in attendance and those keeping tabs over the Web didn’t see these cars coming.

But now that they’re here, we can take a look at the models that made the 2011 Geneva Motor Show that much more interesting.

Check out the list after the jump

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2011 Artega GT

2011 Artega GT

The Artega SE may be the one getting all the attention, but Artega is determined to keep their offering, the GT version, as fresh as possible.

During the 2011 Geneva Motor Show held last week, the German automaker unveiled their latest project, an all-electric, Tesla-beating sports car that produces as much as 275 horsepower, courtesy of two, independently-operated electric motors mounted on the car’s rear axle. But while the SE figures to be a topic of conversation for the next few weeks, we definitely shouldn’t sleep on the car for which the Artega SE was based on, the Artega GT.

As far as aesthetics and performance figures go, the Artega GT makes no qualms about what it has. Designed by Henrik Fisker, the same man behind the BMW Z8, the Aston Martin Vantage, and the Fisker Karma, the GT was built by Artega with only one vision in mind: create a high-powered sports car and doing it on one of the lightest aerodynamic bodies in its market segment.

Using a combination of an aluminum space frame, high-strength steel and alloys reinforced with carbon fiber, the Artega GT is about as sleek and svelte as they come. The fact that it produces around 300 horsepower is the proverbial cherry on top of the sundae.

Details on the Artega GT after the jump.

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Artega GT by Cargraphic

Artega GT by Cargraphic

There’s something to be said about a car you rarely hear from yet when the time comes that they pop up in the grid, you do nothing except pay attention.

As far as we’re concerned, thats how we feel about the Artega GT. And if it’s not enough that we have the car to talk about, this particular GT has actually also been tuned up by renowned tuner Cargraphic.

The 300 horsepower sports car gets a set of GT and GT-R three-piece aluminum wheels in a choice of either 19-inch or 20-inch dimensions. The wheels are also made from lightweight material, helping this Cargraphic-tuned Artega GT shed some weight from its standard version.

Press release after the jump.

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Tresalia Capital purchases Artega GT from Paragon Parts Group

Tresalia Capital purchases Artega GT from Paragon Parts Group

A few years ago, an ambitious company – Paragon Parts Group – tried to make its mark on the auto industry with the Artega GT, a Volkswagen-sourced V6 engine sports car that produced well over 300 horsepower. At that time, it was PPG’s hope that the Artega GT would catch the attention of car enthusiasts - particularly those from Europe – and signal the arrival of the Artega GT to the sports car segment.

Fast forward to present times and the only attention the Artega GT has received recently is news that owner Klaus Frers has decided to sell the car brand to one of its private investors, Tresalia Capital.

A lot of you may not be familiar with Tresalia Capital – neither were we – but upon further investigation, we learned that the company is one of Mexico’s leading investment firms and is led by one of the country’s most powerful women, Linda Alvarado, who is actually the grand-daughter of Felix Aramburuzabala, the founder of Grupo Modelo, which introduced to the alcohol-consuming population Corona, Modelo, and Pacifica.

This is probably the only situation where the words ‘sports car’ and ‘beer’ mentioned in the same sentence isn’t exactly a bad thing.

In any case, as far as the production of the cars are concerned, the turning-over to a new ownership won’t affect the scheduled 500 units that are currently being built at its plant in Germany and, unfortunately, despite having its new owners near local soil, the Artega GT is still not expected to be shipped in the US anytime soon.

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Artega GT Roadster to debut in Geneva

Artega GT Roadster to debut in Geneva

The Artega GT Coupe may be losing its top sooner than expected. Back in the fall we heard rumors that there would be a drop top of this small batch sports car, and now we may get the first opportunity to see it at the Geneva Motor Show in March.

The coupe version has so far been officially only sold in Europe, but the same rumor about the convertable also pointed to a possible U.S. distribution. If the Artega GT is a officially sold here, it may have an up hill battle. Its Volkswagen-sourced 300 hp 3.6-liter V6 makes it competition for cars like the Porsche Cayman, but its €75,000 (about $100,000 at direct current rates) prices it more in Porsche 911 Carrera 4S territory. The saving grace may be that the car is rare with only 500 units planned per year.

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Artega GT in action

Over the past few days we have seen some new information about production beginning for the Artega GT. Now its time to see the hand-built budget sports car in action taking some laps at the Nardo ring in Italy.

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Artega plans new model, possibly for the U.S.

Artega plans new model, possibly for the U.S.

In an interview with CarMagazine, The budget-minded, small batch sports car maker Artega announced its future plans. After the GT ends its run, Artega will build a smaller model that will have a lower price and the ability to be exported to the U.S. by 2010.

The new model will feature a lighter and more economical four-cylinder engine. Also, by 2010 Artega will launch a soft-top version of the current Artega GT. The Artega factory will officially open in September 2008 when the first dealer demonstrators are to roll off the line. By the end of the year, the batch of limited-edition ‘Intro 2008’ models will be completed, plus perhaps 50 built-to-order customer cars.

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Artega GT will also get a convertible version?

Artega GT will also get a convertible version?

The Artega GT will be a serious competitor for the Porsche Cayman when it will go on sale early next year. Karl-Heinz Kalbfell said the Artega GT will be limited to only 1000 units a year and admitted an open-top version is also planned.

The Artega, designed by ex-Aston Martin design chief Henrik Fisker, was revealed at the 2007 Geneva Show as a coupé, but it will eventually be available as a convertible too. The chassis is an aluminium spaceframe with a supplementary frame made of high-strength steel to support the carbonfibre body.

The transverse, mid-mounted engine is a 3.6-litre V6 unit from the VW family, with 300bhp driving through a six-speed, twin-clutch, paddle-shift gearbox.

The car has several eye-catching properties that will prevent it being seen as “just another sports car”, Kalbfell claims. The first is a target weight of 1100kg, undercutting rivals by at least 250kg to the benefit of agility and performance (170mph, 0-62mph below 5.0sec).

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Artega GT Intro 2008 Edition

Artega GT Intro 2008 Edition

Artega unveiled at the Geneva Motor Show the Intro 2008 Special Edition. This limited edition Artega GT will be limited to only 99 units and will go on sale at a price of €79,790.

The Artega GT Intro 2008 will feature unique paintwork, diamond-turned Artega forged alloy wheels, individually numbered plaques on the side panels and gearshift console, as well as custom velour and leather trim.

The Artega GT is powered by a 3.6-litre V6 that delivers 296 hp at 6600 rpm and a peak torque of 258 lbs-ft at 2400 rpm. It makes the 0 to 60 mph sprint in less than 5 seconds and can hit a top speed of 167 mph.

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Artega GT final series version coming in Geneva

Artega GT final series version coming in Geneva

On the last grand trade fair before delivery of the first customer automobile the Artega GT rolls in at its final series version. At the 78th Motor-Show Geneva from the 4th to the 16th of March 2008 specialists and prospects can catch up on the independent technique an production quality of the Artega GT by means of a serial chassis frame. Sales will begin at 63.010 euro+VAT.

The Artega GT is powered by a 3.6-litre V6 that delivers 296 hp at 6600 rpm and a peak torque of 258 lbs-ft at 2400 rpm. It makes the 0 to 60 mph sprint in less than 5 seconds and can hit a top speed of 167 mph.

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Artega GT production will start in May 2008

Artega GT production will start in May 2008

The production version of the Artega GT was unveiled this September at the Frankfurt Motor Show. Now the company is working on a new factory to build its GT model. The GT will go into production in May 2008, with 170 units in the first year rising to 320 in 2009. Prices will start at €75,000.

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Artega GT production version revealed in Frankfurt

Artega GT production version revealed in Frankfurt

The idea for developing the Artega GT can be considered the “dream order” for a highly motivated team: to develop an extraordinary sports car with entirely unique special accents quasi as calling card of the internationally successful electronics supplier paragon AG. Artega GT will go on sale starting spring of 2008 at a price of 63.010 euro+VAT.

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