RichC
Senior Member
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I don't know if anyone has posted this ... but spotted it in the news of the day.
[ QUOTE ]
The Financial Times reported that GB Sports Car, a company run by a group of former Rover managers, is expected to announce it has raised backing from U.S. financiers to set up a joint venture with Chinese carmaker Nanjing Automobile, which bought the assets of MG Rover last year.
The deal has been delayed because of changes within the U.S. consortium, but sources close to the companies said the deal is now in place. Under the new joint venture, GB Sports Car would restart production of MG TF sports cars and ZT large sedans in Birmingham and import other models from China.
GB Sports Car would also license the Austin Healey brand from Nanjing in order to make its own, more expensive sports cars, the paper added. Austin Healey last made cars in the late 1960s.
Meanwhile, the British government has announced an inquiry into the political handling of MG Rover. It could be seriously embarrassing to the government when details of its role in the sale and demise of the car manufacturer are made public. A separate Department of Trade and Industry probe into the company's collapse is already under way.
What this means to you: A happy end at last? Anglophile car enthusiasts will welcome the return of MG and Austin Healey. But the finger-pointing over Rover's collapse just drags on and on.
https://www.edmunds.com/insideline/do/News/articleId=109005
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[ QUOTE ]
The Financial Times reported that GB Sports Car, a company run by a group of former Rover managers, is expected to announce it has raised backing from U.S. financiers to set up a joint venture with Chinese carmaker Nanjing Automobile, which bought the assets of MG Rover last year.
The deal has been delayed because of changes within the U.S. consortium, but sources close to the companies said the deal is now in place. Under the new joint venture, GB Sports Car would restart production of MG TF sports cars and ZT large sedans in Birmingham and import other models from China.
GB Sports Car would also license the Austin Healey brand from Nanjing in order to make its own, more expensive sports cars, the paper added. Austin Healey last made cars in the late 1960s.
Meanwhile, the British government has announced an inquiry into the political handling of MG Rover. It could be seriously embarrassing to the government when details of its role in the sale and demise of the car manufacturer are made public. A separate Department of Trade and Industry probe into the company's collapse is already under way.
What this means to you: A happy end at last? Anglophile car enthusiasts will welcome the return of MG and Austin Healey. But the finger-pointing over Rover's collapse just drags on and on.
https://www.edmunds.com/insideline/do/News/articleId=109005
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