Van maker expected to avoid administration after government loan
6 May 2009

LDV vans may have been saved from administration after a last minute deal was announced.

It is understood that Malaysian company Weststar is poised to take over the company, following the offer of a £5 million four-week loan by the government.

Moves to put Birmingham-based LDV into administration are now expected to be deferred at a court hearing.

The LDV factory has been at a standstill since before Christmas, and 850 jobs were at risk. Thousands of workers at associated companies could have also lost their jobs.

Paul Everitt, chief executive of the Society of Motor Manufacturers and Traders, said, "I think it does signal that there are now investors out there taking a longer-term view and they see the UK motor industry as being a good investment - an industry that has a strong future, particularly one that is already ahead and embracing the low-carbon agenda.”

The government is expected to make a statement on the future of LDV this afternoon.

Add your comment

Log in or register to post comments

Find an Autocar car review

Driven this week

  • First Drive
    21 March 2018
    The new Vantage has been developed as a Porsche 911 beater, and our first taste on UK roads suggests it can live up to that bold claim
  • Nissan Leaf Tekna
    The is the new Nissan Leaf
    First Drive
    21 March 2018
    The new version of the world's best-selling electric car gains a bigger battery and more power. How does it compare to rivals such as the Volkswagen e-Golf?
  • Range Rover p400e
    First Drive
    20 March 2018
    The original luxury SUV is now available as a plug-in hybrid, promising lower emissions and the capacity for silent electric motoring
  • BMW i3s
    Car review
    20 March 2018
    Revised hatchback sets out its range-extended electric stall in a new, sportier tune
  • BMW X2
    This is the new BMW X2
    First Drive
    20 March 2018
    Doesn’t deliver many typical crossover selling points but looks perky, handles keenly and is well capable of winning over your latent cynic