The Chinese buyer of failed UK carmaker MG Rover has decided to limit MGR's resurrection to the production of sports models - in the short term at least.
Nanjing Automobile, which paid £53 million ($94m; €77.9m) in July for the assets of Rover, following its £1.4 billion collapse and the loss of six thousand-plus jobs, has been in talks with British partner GB Sports Car.
The pair have now agreed to put on the back-burner plans to build large sedans at the once-famous Longbridge, Birmingham plant, in favour of smaller models requiring a lower level of investment and fewer workers.
The new-look, slimmed down business will begin with production of an updated MG TF two-seater model, needing around 600 employees and a £75m cash injection.
Nanjing stresses, however, it is in the UK for the long haul and hopes to recruit up to 1,200 staff with the aim building between 50,000 and 80,000 cars a year.
Data sourced from Financial Times Online; additional content by WARC staff
