Spyker Cars Returns, Begins Search For Investors: Report

Last week, former Saab owner Swedish Automobile changed its name back to Spyker Cars. Now, founder Victor Muller has reportedly confirmed that the company will pursue new models and more volume.

The plan represents a turnaround for Muller, after a bid to sell the Spyker sports-car operation fell through just last month.

According to Dutch paper De Telegraaf, Muller is seeking the equivalent of AU$30 million to update and develop a production version of the D12 Peking-to-Paris SUV, first shown at the 2006 Geneva Motor Show.

Muller sees the D12 and similar models as the key to producing up to 1000 units annually, cashing in on the current demand for luxury SUVs, particularly in China.

The plan is not without its detractors, with the Telegraaaf report stating “many investors are now more than tired with Muller's escapades".

Muller has famously led other unsuccessful ventures such as  the Spyker F1 team and, more recently, Spyker’s bid to save the Saab brand.

Muller is said to have a 20 percent stake in Spyker Cars, but with personal loans to the company converted to equity, this figure could be closer to 70 percent.

De Telegraaf reports that another key target of Muller’s investment drive is to reduce his stake to no more than 29.9 percent.

The paper also reports that Spyker is not relying on the D12 alone to secure its future, quoting Muller as describing the order books as “looking very good". No figures were offered.

Spyker Cars has produced fewer than 500 vehicles in total, and in 2011 produced just 12 of its C8 sports car.