Borgward AG: From Post-WWII Boom to Bankruptcy in 1961
Borgward AG, once a prominent player in Germany's automotive industry, faced challenges and triumphs throughout its history. Founded in 1924 by Carl Friedrich Wilhelm Borgward, the company's vehicles, including the Goliath Standard and Isabella models, defined the post-WWII economic boom. However, financial struggles led to its bankruptcy in 1961.
Borgward AG began with the 'Blitzkarre', a motorized three-wheeler. By the late 1920s, Goliath models, like the 1925 Goliath Rapid frontloader, dominated Germany's commercial vehicle market, with one in four vehicles being a Goliath. The company's success allowed it to expand, acquiring a factory site in Industriestraße.
The Goliath Standard model, introduced with a 350-cm³, 7.5 PS engine and a 500 kg payload, defined the post-WWII economic miracle alongside the Isabella and other models. However, a traffic police regulation requiring reverse gears caused difficulties for the company. Despite these challenges, Borgward AG grew to become the fourth-largest manufacturer and employer in Bremen in the 1950s.
After Carl Friedrich Wilhelm Borgward's death, his son, Carl Borgward, traditionally took over the company's leadership. Despite its significant contributions to Germany's automotive industry, Borgward AG faced financial struggles and ultimately filed for bankruptcy in 1961.
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