BORGWARD Decides on New Production Location in Germany This Year

• Tom Anliker appointed Vice-President Marketing and Sales Europe
• World premiere of BORGWARD BX5 and BX6 TS in Geneva

GENEVA and STUTTGART, Germany, Feb. 29, 2016 /CNW/ - Stuttgart automobile manufacturer BORGWARD is to produce cars in Germany once again. "BORGWARD is fully aware of its responsibilities as a German company and of its own tradition of success. We will therefore be making a decision regarding our production location in Germany before the year is out," said Ulrich Walker, CEO of BORGWARD Group AG, in the run-up to the Geneva International Motor Show on Monday evening. BORGWARD celebrated the world premiere of two new models in Geneva: the BX5 and the BX6 TS.

The company is currently conducting a feasibility study to scrutinize potential locations, supply chains and processes.

He also confirmed that the group remains fully committed to its objectives: sales to rise to over 500,000 units a year in the medium term; and market launch in German-speaking countries to take place at the end of 2017. "We only start with plug-in hybrids and purely electric vehicles on the German and other European markets, and these at attractive prices," said Walker. The purely electric vehicles will have a highly competitive range of over 250 kilometres. In addition BORGWARD is aiming for an initial public offering in Frankfurt within the near future.

BORGWARD Group AG also announced that Tom Anliker, 53, has been appointed Vice-President Marketing and Sales Europe as of 1 March 2016. He has over 20 years of professional experience in the automotive sector, including management appointments at major premium carmakers as well as volume manufacturers. Most recently, Anliker was Managing Director at Volvo Car Switzerland.

SOURCE BORGWARD Group AG

BORGWARD Group AG, Kriegsbergstrasse 11, 70174 Stuttgart, Germany; Marco Dalan, Head of Global Communications, Telephone [phone], e-mail [email protected]; http://www.borgward.com