The UK car company, Bristol Cars, has been saved from administration after Kamkorp Autokraft bought it from administration yesterday.
The Swiss firm Kamkorp Autokraft is part of the Frazer-Nash Group, which was originally involved with the creation of the company 65 years ago.
The company entered administration back at the beginning of March, with the future of the factory near Bristol and the showroom on Kensington High Street under threat.
William Chia, the Frazer-Nash Group's director of operations, said: "Bristol Cars is a British institution and an important part of our national motoring heritage. Over the next few months we will start to reveal the details of our plans to combine Bristol Cars' tradition and iconic marque with Frazer-Nash's pioneering technology to showcase our cutting-edge electric and range-extended powertrains."
He indicated that the plans were to keep much of the talent and procedures the same, saying: "British engineers are globally recognised for their inventions and the quality of their innovation – and these attributes are inherent in all our systems and products. Mindful of Bristol Cars' rich heritage and our responsibility as custodians of the brand, we are certain that our technology will blend seamlessly and successfully with the Bristol Cars tradition of engineering integrity.