Hispano Suiza Engineering, Associated With The Maguari HS1 GTC, Reportedly Filed For Bankruptcy | Carscoops carscoops
Hispano Suiza Engineering was founded in 2016 and is wholly owned by the Hispano Suiza Automobilmanufaktur AG that has been around since 2010 and is headquartered in Baar, Switzerland. Itsis still active, promoting the V10-powered Maguari HS1 GTC that was unveiled in concept form back in 2019 and was scheduled for a limited production of 300 units.
According to ORF, production was delayed due to various factors including the pandemic, and the high development costs for the vehicle resulted in a debt of €4.7 million owed to banks, shareholder loans, and suppliers. Assets include the Villach soon-to-be production site, and two full-size prototypes of the Maguari HS1 GTC that will likely be liquidated, with the trademark rights reportedly confiscated by the bank.
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