British Boutique Sports Car Maker TVR Sold to 24 Year Old Russian Investor

TVR to Build Left-Hand Drive Cars for Europe and North America

To many North Americans, TVR is little more than another three letter acronym, but to a select few whose automotive interests span

It wasn't long ago when TVR was Britain's largest independent car manufacturer. (Photo: TVR)

beyond our borders the TVR nameplate represents the pinnacle of modern British sports cars. A sign of the sad state of the British auto industry, whose citizens once held ownership in marques such as Jaguar, Austin, Aston Martin, Triumph, MG, Riley, and the list goes on and on, there was a point not too long ago when TVR was Britain's largest independent car manufacturer, before Rover tumbled back into British ownership from a short-lived stay at BMW.

If Rover doesn't manage to keep itself above water, and rumors about its demise are flourishing, then TVR would have until recently been the heir apparent to the largest British owned independent car manufacturer honors once again, but such can't be the case anymore.

On July 27th 2004, Peter Wheeler surprisingly sold 100 percent of TVR to 24 year old Russian investor Nikolai Smolenski for

Twenty-four year old Russian investor Nikolai Smolenski purchased 100 percent of TVR from former owner Peter Wheeler.

the undisclosed sum of what's believed to be just over $27 million US dollars. To the son of millionaire Alexander Smolenski, who amassed his huge fortune in post-communist Russia, the deal was literally too good to pass up. After all, what's a mere $27 million to a young man with a personal wealth beyond $100 million U.S.?

Although an affordable purchase, running TVR is by no means a simple project. Nikolai is fully aware of the rigors and demands of the business world however, as for the past three years he has headed Russia's OVR bank. In his earlier years he learned business skills and techniques in the UK and is thus familiar with foreign corporate methods.