British startup Zenos, which entered bankruptcy administration earlier this year is now back in business. The Norfolk-based sports car manufacturer was bought by a consortium of investors headed by AC Cars, another British brand. The consortium has acquired all of its assets including Zenos’ intellectual property, ten remaining cars assembled, as well as its Wymondham headquarters.
Zenos Cars was founded in 2012 by Ansar Ali and Mark Edwards ---both were formerly connected to two famous British automotive companies--Lotus and Caterham. The British automaker started out at Hethel Engineering Center with a small lineup of lightweight carbon-fiber sports cars including the Zenos E10. Using Ford EcoBoost for its engine, the Zenos E10 sports car is also made with an aluminum and composite chassis. Eventually, the company started experiencing financial setbacks due to high production cost.
AC Cars Limited meanwhile continues to manufacture the Cobra also known as the MkVI roadster or Shelby Cobra. Only recently, the British brand increased its lineup by building a right hand drive version of the iconic sports car.
The sum of investment as well as the rest of the members of the consortium was not disclosed to the public. However, it is very likely that all Zenos products will go by the name AC Zenos after the acquisition. We learned about this through Autocar after they spoke with the owner of AC Cars, Alan Lubinsky.
Lubinsky and other investors may also continue to build the Zenos E10 and its derivations at the AC plant in South Africa. Although Lubinsky hasn’t made any confirmations yet on whether the Zenos production will move overseas or remain in Norfolk.
The consortium’s spokesperson explained how Zenos’ previous owners have invested several million pounds and that its sports cars have been recognized very well by the media. For this reason, their team is also “convinced” the E10 range will serve as an “excellent platform” to deliver internationally successful sales. Moreover, the consortium is looking forward to continue with its growth and development and will be expanding its plans over time.
In the last two years, Zenos became famous with the appearance of its E10 sports car at The Grand Tour as well as on other popular online videos and motoring media. The company’s fallout has nonetheless left at least twenty-five people without jobs. Zenos last year has produced 100 units of the E10 where half of it were sold overseas while the rest were sold all over Europe, the UK and the US.