Rapidly rising car company owned by famous billionaire forced to shut down production of popular model
INEOS, the rapidly-rising car firm owned by Sir Jim Ratcliffe, has been forced to halt production of its popular Grenadier model.
The firm announced that global disruption means it can’t get its cars off the production line, with the delay expected to last months.
Ineos Automotive was founded by Manchester United boss Sir Jim in 2016.
Based in London, the company was reportedly born when the billionaire businessman was looking to replace his classic Land Rover Defender, which had been discontinued.
He apparently approached Jaguar Land Rover in an attempt to negotiate the rights to manufacture a successor to the model but, when this was turned down, he resolved to simply build his own instead.
That idea eventually became the Ineos Grenadier, supposedly named after Sir Jim’s favourite pub in London’s Belgravia.
However, the model has now run into difficulties thanks to a breakdown in its supply chain.
Speaking with Automotive News Europe, Ineos Automotive CEO Lynn Calder revealed that the company cannot get its hands on a piece of trim that it “cannot sell the car without”.
As a result, production has had to shut down until supplies can be restocked.
The original supplier of the part is, according to Ms Calder, in a “pre-insolvency situation”, leading Ineos to seek a new partner to provide it.
Unfortunately, the interruption has come just ahead of the brand expanding to vital markets in China and Mexico, where SUVs are in high demand.
There is no word yet on what effect the delay will have on these expansion plans.
For now, bosses estimate that no more Grenadiers will be produced until “toward the end of the year or early next year”.
A company spokesperson said: “Our production at Hambach has encountered a critical component shortage beyond our control, causing a pause in our production schedule.
“Automotive supply chains are always complex and challenging, but this hits at such a busy time for us.
“We are leaving no stone unturned in our efforts to get our manufacturing back up and running, to catch up with demand as swiftly as we can.
“At the moment, we are operating a conservative scenario which would see us get back to full production rates in early 2025.
“In the meantime, we would like to thank our customers – in particular those waiting for their Grenadiers – for their patience as we work hard to get back to business.”