UK Report: Deal to Save MG Coming This Week

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According to the peach-colored UK business rag, The Financial Times, a new firm staffed by Rover alums will announce a joint venture with Nanjing Automobile — the new owners of MG Rover — to restart production of MG cars. The venture, GB Sports Car, is backed by US-based financiers and will restart production of the MG TF sports cars and ZT sedans at the former Rover factory in Longbridge, Birmingham, supplemented with new models from China. The Austin Healey brand would also be revived for a line of upmarket sports cars. Still, don't break out the pie and chips quite yet — the British government has launched an investigation into the demise of MG Rover last year, which could open up some old wounds, but won't likely affect the deal.

REPORT: MG's Rebirth Could Happen as Early as Next Week [internal]

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