Morgan sold to an Italian venture capital company.

[grober]

Morgan family sells control of carmaker
Morgan cancelled its Electric ev3 wheeler after a dispute with Fraser-Nash which was wound up last year.
Morgan cancels development of long-awaited EV3 electric three-wheeler

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In 2016 Morgan were in receipt of a £6 million government grant to develop new electrical powertrain technologies.
Morgan Motor Company to benefit from £6m of government funding

Investindustrial also have a substantial holding in Aston Martin Lagonda Global Holdings PLC albeit in a different fund.
http://www.investindustrial.com/dam/Investindustrial/news/Investindustrial-acquires-Morgan-Motor-Company/Investindustrial acquires Morgan Motor Company.pdf

Timed I assume to co-incide with the start of the Geneva Motor show.

 

[GeordieN]

Sad that its now not British although the family still will retain a minority shareholding. wonder what the crack is with the £6 million they were given.

 

[Deleted member 126969]

Mate of mine works for them - I'd best see what he thinks from his perspective.

 

[MikeInWimbledon]

By definition a VC is only a temporary owner.

Let's see who's daft enough to bankroll a small car company through a period of dramatic engine reformulation and uncertainty.

It'll be a bloke with more cash than he knows what to do with.

Fortunately there are plenty of that kind of Englishmen around still.


.

 

[grober]

Sad that its now not British although the family still will retain a minority shareholding. wonder what the crack is with the £6 million they were given.

Seems rather murky---in the initial government announcement the consultancy firms Delta Motor Sport and Potenza Technology [ Warwick University based?] are mentioned but later this seems to change to Fraser-Nash- maybe at the production phase ? FN were involved with the Metrocab electric taxi project .
Morgan Motor Company announces technical partnership with Frazer-Nash Energy Systems as Morgan EV3 begins production in 2018
https://www.taxi-point.co.uk/single-post/2018/08/23/Metrocab’s-Frazer-Nash-to-be-Wound-Up
FN Energy were wound up owing people a lot of money HMRC £1,555,942. I suspect that after some or all these consultancies got a bite of the £6million there's very little of it left?

Fraser Nash Consultancy are also known as part of Kamkorp who own Bristol Cars according to this disputed ?? Wiki entry
Kamkorp - Wikipedia

 

[Deleted member 126969]

Early days, but my mate is excited at the prospect of the new funding. Time will tell.