TVR Automotive has entered the first phase of a multi-step restructuring that will place the company under Charge Holdings Ltd as part of a planned merger and acquisition process. The goal is to form a multi-brand, low-volume automotive group focused on performance and luxury vehicles.
Under the initial phase, members of the Charge Holdings board will join the TVR Automotive board. TVR will also issue new share capital to Charge Holdings. Later stages will involve Charge Holdings purchasing existing shares from current TVR shareholders as part of the agreed consolidation.
The restructuring will allow both companies to share intellectual property, engineering capabilities, facilities, and leadership teams. According to the companies, this structure is designed to support future growth and facilitate the introduction of new TVR models to the market.
While Charge Cars contributes its electric vehicle technology, TVR will continue to prioritize the launch of the refreshed TVR Griffith, alongside a fully electric version, which they say will retain the raw characteristics of the TVR brand. That being said, TVR will maintain its focus on high-performance internal-combustion sports cars before expanding into new technologies later on.
Charge Holdings says the partnership aligns with its long-term strategy of combining heritage and innovation across a streamlined group of performance and luxury marques.
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