Ineos Automotive: Startup backed by a knighted billionaire and soccer mogul wants to rekindle the rugged SUV market

Business

An automotive startup founded by a knighted billionaire, U.K. chemical mogul and minority owner of one of the world's most prominent soccer clubs wants to rekindle the rugged SUV market. The company — Ineos Automotive — has produced more than 35,000 off-road SUVs and pickups since starting in 2022, with ambitious growth plans that include potentially expanding vehicle production to the U.S. and a target this year to achieve breakeven, executives exclusively told CNBC. "We're running it for