Streets predicts boom for new UK luxury carmaker
An East of England accountancy practice is helping to drive the growth of an exciting new UK motor marque set to take the automotive world by storm.
Streets is acting for fledgling UK luxury car company Eterniti Motors which launched the Hemera – the world’s first Super SUV – at Frankfurt; a rare double bow for both a new marque and a new car.
Paul Tutin, Streets’ chairman and managing partner, told Business Weekly that Eterniti had the potential to be a £100 million plus turnover group within a very short period.
“We have acted for some of the consortium of investors for some time and we were asked to act for Eterniti. We act as auditors, tax advisors and handle all of the accounting functions for the company through our Stevenage outsourcing team.”
Critics at the Frankfurt show said the Hemera provided new levels of luxury, exclusivity and performance in an SUV, to create a new niche.
Based in Park Royal in North London, Eterniti has targeted demand for a high end luxury SUV within the international markets and especially within the Middle East, Russia and emerging Asian markets.
The car starts its journey at the company’s London factory as Porsche Cayenne 4x4. Working their magic, the team at Eterniti transform both the exterior and unique interior.
Revised carbon composite panels, increased vehicle width and length along with interior refinements attracted attention from visitors to Frankfurt. A re-trimmed cabin provides two reclining rear seats, iPads and drinks chiller and offers those seated in the back a level of refinement and ride rarely experienced on some of the roads and terrain covered by such vehicles.
The Hemera’s 4.8 litre twin turbo V8 engine will produce over 620bhp and a top speed of in excess of 180 mph. Prices have yet to be confirmed, but will be around £150,000 for the standard vehicle.
Tutin said: “This is a very exciting project. The UK deservedly takes a prominent role in the world car market with many successful and well respected brands and manufactures. We sincerely believe Eterniti can look forward to becoming the latest edition to country’s widely acclaimed motoring marques.”
Streets, which has offices throughout the region, has wide ranging expertise across the motor industry.
Tutin added: “With Eterniti’s long terms plans to open showrooms in Hong Kong, Tokyo and Taipei, we will be able to draw on specialist expertise to support the company through our membership of the global accountancy network, the Leading Edge Alliance.
“It is easy to see how it could become another high end contender, along with Bentley and Aston Martin, not least given the team working on the Hemera, which includes Alastair Macqueen and Johnny Herbert. Macqueen worked on the Jaguar XJ220 supercar project and won at Le Mans, while Herbert was an F1 driver for a decade.”
It is anticipated that the first Hemera, which is to be based on the model shown at Frankfurt this month, will be seen on the roads in 2012, with the opening of Eterniti’s first showroom in London.
• Pictured at the launch of the Hemera are (left to right) Johnny Herbert, Ian Croft (Streets), Kenny Chen (Eterniti Motors) and Paul Tutin, streets chairman and managing partner.