The British sports car maker Zenos Cars, which entered administration earlier this year, is set to live on as a buyer has been found for the company.
Zenos started this year facing major financial difficulty, leading to them entering administration and meaning there was a limited time window for a new company to take over and keep the business running.
The consortium which has now agreed to buy Zenos is led by AC Cars, a British independent sports car maker most famous for making the AC Cobra – known as the Shelby Cobra in America.
A spokesman for the consortium said: “Zenos has been the recipient of several million pounds of investment from its previous owners and its sports cars have been well received by the specialist media.
“Our team is convinced that Zenos Car’s E10 range provides an excellent platform for international sales success and we look forward to moving forwards with exciting plans for its development and growth. We will expand on our plans in due course but have nothing further to add at this time.”
In acquiring Zenos, AC Cars expands its own business and acquires a brand known for making the E10 – a range of lightweight sports cars which rival popular track day enthusiast options from the likes of Caterham, Lotus and Ariel.
The profile of Zenos Cars has grown in the last couple of years thanks to the E10’s appearance in high-profile online videos and motoring shows, including The Grand Tour.