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Thursday, 23 February 2006 |
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MG Rover owners Nanjing Automobile has signed a 33-year lease for 105 acres of the Longbridge factory site and said it would begin producing sports cars at the plant next year.
While the new lease squashed mounting fears that Nanjing would only sign another six-month, short-term lease while it considered whether to restart production, it does incorporate a six-month break clause in case Nanjing is unable to confirm a viable long-term future for the site. The Chinese firm said it planned to employ up to 1,000 workers and begin production of the MGTF sports car in 2007.
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