Artega has filed for insolvency with local courts in Paderborn, Germany, the company said in a statement on its website today. This step was necessary due to a failed business deal.
An attempt to save the small German carmaker has been under negotiation for several months, but the Asian investor pulled out at the last moment. This might signal the end of the Delbrück based manufacturer founded in 2006 which now no longer can meet its financial obligations.
The Artega GT was released at the 2007 Frankfurt Auto Show. The GT is a mid-engined, rear wheel drive two-seat sports car designed by Henrik Fisker. In March 2011, Artega unveiled an electric version, called the Artega SE. A roadster was also being developed, but now it’s unsure if this model will ever leave the factory.
Artega is currently talking with other investors and will try to restructure in the process in order to regain solvency. The carmaker is now trying to find a solution for its 34 employees.