The TF LE500 sportscar will go into production in August, the carmaker's newly-appointed chairman has announced – marking a return to production in Longbridge after a three year hiatus.

He Xiao Qing said NAC recognised the frustration the delay had caused in the industry but the carmaker was now focussed on the job in hand.

“I am delighted to be in a position to talk about a launch date for the TF LE500 following a process of planning, re-organisation, quality improvements and parts optimisation that we recognise resulted in frustration for our stakeholders,” He said.

“We are now fully focussed on bringing our hard work to fruition.”

NAC claimed full scale production of the MGTF and a family of new cars would follow shortly at Longbridge but did not reveal start dates.

The carmaker also appeared to apologise for the confusion that has surrounded the future of Longbridge, which has been on-going since its acquisition of MG back in 2005.

In a statement it said: “The commitment planned by MG and the level of investment underwritten by SAIC (NAC's owner) will persuade doubters that the MG brand is being re-launched with the support to make it successful again.

“The fact is that in 2008, a desirable and competitive British made sportscar will once again be rolling off a production line in Longbridge.

“A sight that many thought they might never see again.”