Chinese carmaker Nanjing Automobile took a lease today on the former MG Rover plant at Longbridge, central England, and said it still hoped to revive production at the site.
"This means we can move forward with our business plan to build cars at Longbridge. The MG brand is famous and we are proud to project it into an exciting future," Nanjing UK Chairman Wang Hongbiao said in a statement.
Property developer St Modwen Properties, which owns the site, said in a statement Nanjing signed a 33-year lease. It did not comment on UK newspaper reports that the lease included a 6-month break clause in case Nanjing's plans fell through.
Nanjing bought MG Rover out of bankruptcy last year. The British carmaker collapsed under debts of £1.4 billion pounds in April 2005, leading to 5,000 job losses at its main plant.
Nanjing had said it aims to revive production at Longbridge and would make up to 80,000 cars annually with the MG Rover badge each year and employ 2,000 workers in Britain within five years.