Nanjing Automobiles'' Chinese-made MG cars go on sale
24 Aug 2007
China's oldest automaker Nanjing Automobile Corporation, which beat its domestic rival and market leader, Shanghai Automotive Industry Corporation, to acquire the UK's marqué MG for L53 million in July 2005, has announced that Chinese-made MG cars will go on sale in China next month.
Nanjing Auto is rolling out the Chinese-built MG sports cars, MG 7 and MG TF, from its production line in the eastern city of Nanjing.
Priced between $23,000 and $40,000, these MG 7 cars will make their official debut at 50 dealerships, Nanjing Automobile Corporation said. Though an unknown brand, more than 3,000 wealthy have booked the MG models.
After acquiring the bankrupt MG Rover, NAC shipped most of its equipment from its UK plant in Longbridge to a site 200 miles from Shanghai.
Earlier reports had suggested that Nanjing had rolled out the cars in March this year. (See:)
Nanjing
has ambitions to become a "significant global player"
and the acquisition of Rover would give it an entry into
Europe. The company also has a joint venture with Fiat,
which is under performing. Nanjing, which has 16,000 workers,
is far smaller than SAIC, which made 600,000 vehicles
last year.
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