Bankrupt Dutch carmaker Spyker relaunched with multi-million euro Ukrainian investment

The Dutch sports car manufacturer Spyker, which had gone bankrupt, is being relaunched with Ukrainian businessman Volodymyr Nosov joining as an investor. He has acquired a substantial share in the company, becoming a co-owner in the revived brand.

Spyker will become part of Nosov’s fintech company W Group. In a statement on Spyker’s website, he called the move “both a personal and strategic investment. For years, I have been investing in rare cars, and I have always had great admiration for Spyker’s unique design language and extraordinary heritage.”

The financial details of the deal have not been made public. However, a person familiar with the matter told the Financial Times that Nosov’s shareholding is valued at several hundred million euros.

Spyker has also revealed plans for a new model, the C8 Preliator XXV, which is expected to be unveiled in August. Alongside this, the company and W Group intend to launch a new tech venture aimed at building digital infrastructure for the luxury automotive industry.

The proposed firm, Spyker Digital, will study how emerging technologies can enhance the customer journey, ownership experience, and overall brand interaction.

The original Spyker was established in 1880 by brothers Hendrik Jan and Jacobus Spijker, making it one of the world’s oldest luxury automotive brands. The company shut down in 1925 and stayed dormant for roughly 75 years. It was revived in 2000 by current CEO Victor Muller, but production remained limited to only a few sports cars annually. Muller has been accused of shady business dealings in the past, including allegations of tax evasion.

Following a failed and costly takeover of Swedish carmaker Saab, Spyker was declared bankrupt in 2014. That bankruptcy ruling was later overturned by a court, leading to plans to merge with a U.S. aircraft firm, but the company ultimately collapsed again in 2021.