China’s oldest carmaker Nanjing Automotive has secured ownership of MG Rover for an unknown sum. It was one of two Chinese companies trying to buy the assets of MG Rover, the other being Shanghai Automotive. The news is a blow for UK businessman David James, whose Kimber group had put in two bids to buy parts of Rover.
Nanjing will now begin to take control of the assets and develop its plans for the future. A source has said that Nanjing intends to relocate the engine plant and some car production plant to China, but to "retain some car production plants in the UK". It is also thought that Nanjing plans to develop an R&D and technical facility in the UK.
