Billionaire Ratcliffe’s SUV Venture Grapples With Trump Tariffs
The maker of the Grenadier faces a major bump in the road to profitability.
The Ineos Grenadier on display in Seoul on April 3.
Photographer: Chris Jung/NurPhoto/Getty Images
British billionaire Jim Ratcliffe built a $13 billion fortune reviving ailing chemicals companies. Repeating the trick in other industries hasn’t been as easy: his most high-profile investment, Manchester United Football Club, has been dogged by poor performance on the pitch, while his foray into the car business is struggling even more.
In September, Ineos Automotive Ltd. idled its only factory for four months after its seat supplier went bankrupt. Then, it recalled more than 7,000 of its Grenadier off-roaders in the US after some of its vehicles’ doors opened while moving.