TAGAZ AQUILA SPORTS CAR MANUFACTURER FILES FOR BANKRUPTCY

The French company MPM Motors filed for bankruptcy and subsequent liquidation. Since 2016, the company has been producing MPM PS160 and MPM Erelis sport cars, which are the copies of Russian Tagaz Aquila sports cars. Having existed for six years, the enterprise sank to the bottom. According to the statement of management of the organization which has been made in a recent press release, the company has been having a "trip to hell" for the past two years, barely surviving and not hoping for support from the authorities.

Press secretary Guillaume de Berry stated that the company would fulfill all the obligations to clients in full. Since the warehouses are stocked with a large number of spare parts, the buyers will not be in short of them.

The final sale will begin in the spring 2021 as a part of the liquidation proceedings.

The closure of production actually means that projects for the production of a crossover, sedan and city electric cars will be terminated. The crossover production will be closed at 95% availability, while the city-format electric car has been at the prototype launch stage.

It is known that in recent years, the French company has been producing MPM Erelis cars at a price of € 16,900 in small series, having sold more than one thousand cars. In its address, the company thanked the dealers, partners and employees of the company.

Experts note that the French company MPM Motors was actually forced to repeat the fate of the Taganrog company "TagAZ", which produced sports cars.

The founder of the brand in France is Igor Paramonov, the son of the former owner of TagAZ. His father, Mikhail Paramonov, had previously fled Russia to France to hide from the creditors of a bankrupt Russian enterprise.

Since 1997, TagAZ has been trying to produce the cars of various brands in Russia, including Vortex, Hyundai and BYD. The idea of ​​producing locally assembled sports cars "affordable" for Russians under the Tagaz Aquila brand did not bring success to the plant, since there were very few enthusiastic car lovers who wanted to buy a car with a Mitsubishi engine of 107 hp in 2012-2013. In 2012, the enterprise came under supervision and in 2013 the external management was introduced. After the plant was declared bankrupt in 2014, a debt of 18.1 billion rubles was turned over to Mikhail Paramonov, who was the guarantor for the loans.