• Spyker Bankruptcy - Going the Way of Faraday Future in 2021?

Spyker goes bankrupt again and the B6 Venator might not see the light of day

2021 was supposed to be the year when Spyker finally introduced the production version of the B6 Venator, a concept that it first unveiled in 2013. The Dutch were also supposed to launch the D8 Peking-to-Paris SUV. Sadly, none of that will happen as Spyker filed for bankruptcy. Again. It’s been almost six years since the Dutch company resumed operations following its first bankruptcy and Spyker no longer has the financial power to continue. But it might not be the end for the brand.

Spyker Bankruptcy - Going the Way of Faraday Future in 2021?
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According to a report by Dutch publication RTL News, Spyker CEO Victor Muller filed the company for bankruptcy. The news is a bit surprising as reports from August 2020 claimed that the Dutch company got an investment from SMP Racing owner Boris Rotenberg. It turns out that the deal didn’t go as agreed and Spyker never got the funding it needed. With both Spyker Events and Spyker Services bankrupt since 2020, parent company Spyker NV entered 2021 with too much debt to recover.

Spyker's story is very similar to that of Faraday Future.

Founded by a Chinese businessman in Los Angeles, Faraday Future showcased a few promising all-electric concept vehicles. The company also showcased pre-production models as early as 2017, but none of its vehicles hit the assembly line as of 2021. Faraday has been struggling to survive since its early days and despite a $1.5 billion investment from Hong Kong in 2018, the company fired many of its employees by mid-2019. Later that year, company founder Jia Yueting filed for personal bankruptcy and stepped down from his role as CEO.

Spyker Bankruptcy - Going the Way of Faraday Future in 2021?
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Faraday Future also announced a joint-venture with China-based game operator The9 to make EVs, but the future of the brand remains unknown as of early 2021. Faraday Future also joined Formula E in 2017 through a collaboration with Dragon Racing, but retired just one year later due to lack of funds.

Spyker has been struggling for 20 years

Spyker Bankruptcy - Going the Way of Faraday Future in 2021?
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The Spyker name goes back all the way to 1880, when it was established as a carriage manufacturer. The Dutch company started manufacturing automobiles in 1899 and four years later it created the world’s first four-wheel-drive car, the Spyker 60 HP.

Spyker also built the world's first six-cylinder car and the first four-wheel braking system.

In 1914, Spyker merged with a Dutch aircraft builder and produced fighter planes and aircraft engines during World War I. Following years of financial difficulties, Spyker went bankrupt in 1926 after building almost 2,000 cars.

The brand was revived in 1999 by Spyker Cars, a company that bought the rights to the name and logo. Spyker returned to the market with the C8 Spyder, powered by an Audi V-8 engine, in 2000. In 2006, it introduced the Spyker C12, powered by a 6.0-liter W-12 engine, also borrowed from the Volkswagen Group.

Spyker Bankruptcy - Going the Way of Faraday Future in 2021? High Resolution Exterior
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Spyker is also known for having purchased Swedish carmaker Saab from General Motors in 2010. The Dutch company was unable to fund Saab’s losses and the Swedish brand went into receivership and liquidation before it was sold to National Electric Vehicle Sweden.

Spyker unveiled the B6 Venator in 2013, but the company was declared bankrupt in late 2014. The Dutch brand eventually resumed operations in 2015 and almost one year later announced a new model, the C8 Preliator.

Spyker Bankruptcy - Going the Way of Faraday Future in 2021?
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Despite all the struggle and the company going into bankruptcy for the second time, CEO Victor Muller remains optimistic that he can save the brand. "I’m not going to let this put me off. I think the chance that there will be an investment in Spyker is very high. It ain’t over till the fat lady sings," he told RTL News.

Source: RTL News

Ciprian Florea
Ciprian Florea
Senior Editor and Supercar Expert - ciprian@topspeed.com
Ciprian's passion for everything with four wheels (and more) started back when he was just a little boy, and the Lamborghini Countach was still the coolest car poster you could hang on your wall. Ciprian's career as a journalist began long before earning a Bachelor's degree, but it was only after graduating that his love for cars became a profession.  Read full bio
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