GPWizard F1 Forum
Everything Else => General Automotive => Topic started by: cosworth151 on December 28, 2007, 04:30:14 PM
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SAIC said today in China that it had acquired Nanjing Automobile Corp., which owns the rights to the MG brand. Nanjing’s plant, now owned by SAIC, had planned to reintroduce an MG roadster in Europe.
Separately, Fiat Auto and Nanjing said today that they had dissolved their partnership in China that produces passenger vehicles. They are keeping a joint venture that produces commercial vehicles in China.
In Britain, SAIC’s r&d center will be consolidated with Nanjing Auto’s operations at Longbridge. SAIC plans to establish r&d, production and sales operations for Europe.
Chen says production of MG models in Longbridge will start soon. SAIC plans new MG models for Europe, he says.
In June, 2006, Nanjing said that it planned to build a plant in Ardmore, Oklahoma, to produce MG-TFs for the US market. The whole project has become a major fiscal boondogle. The cars were supposed to go on sale in the summer of 2008.
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What happened to commitment in owning companies?