Move over Rover, let the Chinese take over.

AlbanyCartel · 08-16-2006, 06:49 PM

Well, the title should have been Move over BMW, let the Chinese take over.
But not everyone listens to Hendrix.

Anywayz, BMW sold Rover and MG to the Chinese.

Slightly fresh off the presses: http://www.telegraph.co.uk/money/mai.../cnrover16.xml

"BMW, the German car maker which owns the historic brand, is understood to have agreed to sell the marque to Shanghai Automotive Industry Corporation for more than £11m."

Ford actually got first dibs on Rover but allowed Shanghai Automotive to buy it on the condition that they not produce any off-road vehicles under the Rover name.

"A spokesman for BMW said: "A sales contract for the Rover trademark has been signed, but completion is conditional on whether Ford exercises its right to buy within an agreed period of time." Ford declined to comment. However, it is understood that the US car maker is unlikely to stand in the way of any sale after extracting guarantees that Shanghai Automotive will not start making off-road Rover cars."

MG was also sold to the Chinese, however it is controlled by another company named Nanjing Automotive.

"The Birmingham Post reported that Nanjing, which is hoping to start making MG cars at Longbridge next year, had offered to buy the Rover marque for £500,000 in a bid to keep control in the UK. However, a Nanjing spokesman said that it was not interested in buying the Rover marque. The spokesman said: "The only bit they are interested in is the MG brand.""