Rover SOLD for £1 Billion to the Chinese!!!
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Now please go and read it all again. MGR has been sold to absolutely nobody.
A new venture (ie company) is to be formed with MGR owning 30% and SAIC 70%. SAIC will own 0% of MGR.
Admittedly, the new cars will be developed as part of the joint venture and therefore hold the intelectual property rights, but that is about it.
A new venture (ie company) is to be formed with MGR owning 30% and SAIC 70%. SAIC will own 0% of MGR.
Admittedly, the new cars will be developed as part of the joint venture and therefore hold the intelectual property rights, but that is about it.
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Stu is right, MG Rover and the longbridge facility et al.. is still owned by Pheonix Venture Holdings and remains 100% British.
The new venutre is about developing new models that both companies can use in their native markets... and MGR just so happen to have one ready in terms of the R45/MGZS replacement.
This news is not new, the talks have been going on for at least 6months... I know for one that I mention it on this forum every time someones convinced we're getting a re-badged Proton!
MGR have the design experiance and capability, SAIC have the money and both have manufacturing ability.
In laymans terms, MG-Rover get access to £1bn of cash to design models for their own use, and for the use of Shanghai Automotive!
So what does this mean to you and I?
Hopefully it means that the new 45 and ZS models are just around the corner, and other projects (ZR) can soon follow!
The new venutre is about developing new models that both companies can use in their native markets... and MGR just so happen to have one ready in terms of the R45/MGZS replacement.
This news is not new, the talks have been going on for at least 6months... I know for one that I mention it on this forum every time someones convinced we're getting a re-badged Proton!
MGR have the design experiance and capability, SAIC have the money and both have manufacturing ability.
In laymans terms, MG-Rover get access to £1bn of cash to design models for their own use, and for the use of Shanghai Automotive!
So what does this mean to you and I?
Hopefully it means that the new 45 and ZS models are just around the corner, and other projects (ZR) can soon follow!
Nearly, but not quite. The deal is all but done. People have been assigned tasks in getting it off the ground on a technical level already. The main point that is holding it up is that it has to be approved by the Chinese government. As far as MGR and SAIC are concerned it is a done deal.GSXR said:
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so we gonna be drivin .........ZLED RRRRR's
now are we ????
now are we ????
This was also in the paper a few days ago.
It's a joint venture, not a take over they say. Shanghai motors will be letting MG use their 4x4 which will be rebadged, reddesigned here and there and sold as an MG!
Apparently they will know by the new year, but according to the journalist this deal could make or break MG Rover
Not sure HOW accurate it was but it seems in line with what has been mentioned on here. They also say the TF Coupe is NOT definitely going in to production but most likely will as they need more models on the market, and the 75 CONCEPT future is undecided also but if they both go ahead BOTH models will be in showrooms by late 05 early 06!
It's a joint venture, not a take over they say. Shanghai motors will be letting MG use their 4x4 which will be rebadged, reddesigned here and there and sold as an MG!
Apparently they will know by the new year, but according to the journalist this deal could make or break MG Rover
Not sure HOW accurate it was but it seems in line with what has been mentioned on here. They also say the TF Coupe is NOT definitely going in to production but most likely will as they need more models on the market, and the 75 CONCEPT future is undecided also but if they both go ahead BOTH models will be in showrooms by late 05 early 06!
Quote from the article
"The top secret model will be one of the first results of MG Rover's partnership with China's biggest car firm, Shanghai Automotive.
It will be a redsigned and re-engineered version of the Rexton, a 4x4 produced by Korean Firm Ssang Yong, who were recently taken over by Shanghai Automotive".
Again, not sure how accurate this is but it all makes sense!
:-s
"The top secret model will be one of the first results of MG Rover's partnership with China's biggest car firm, Shanghai Automotive.
It will be a redsigned and re-engineered version of the Rexton, a 4x4 produced by Korean Firm Ssang Yong, who were recently taken over by Shanghai Automotive".
Again, not sure how accurate this is but it all makes sense!
:-s
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Stu - djpacif is right, the 4x4 will be based on the Rexton, produced by Ssang Yong! Several transporter loads have already made their way to Longbridge...
However, rumours (and I dont know how well founded these are) are that they've let some former Land Rover staff at it and even managed to shoe horn the 4.6 Mustang V8 into it from the ZT260! WHat it does sound like is that there will possibly be the chasis being sent over and the remainder of the construction is to be done here in the UK.
Sounds more promising that the old ShittyRover re-badge.
However, rumours (and I dont know how well founded these are) are that they've let some former Land Rover staff at it and even managed to shoe horn the 4.6 Mustang V8 into it from the ZT260! WHat it does sound like is that there will possibly be the chasis being sent over and the remainder of the construction is to be done here in the UK.
Sounds more promising that the old ShittyRover re-badge.
You are right.
I seem to have gotten into my head that Tata bought Ssang Yong, not SAIC.
But yes, although from what I have been told, this is not part of the JV company at the moment is just a rebranding exercise and will go ahead regardless of the JV getting approval.
I seem to have gotten into my head that Tata bought Ssang Yong, not SAIC.
But yes, although from what I have been told, this is not part of the JV company at the moment is just a rebranding exercise and will go ahead regardless of the JV getting approval.
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