Shanghai hope at MG Rover
13 April 2012
THE future of loss-making MG Rover could be more certain after it reached an agreement with China's Shanghai Automotive Industry Corporation to produce its cars in China.
Although the deal has yet to be formally approved by the Chinese government, it is already being hailed as the answer to the financial woes of the Longbridge-based company, which made a £95m loss in 2002.
It is expected that the deal will provide resources for several versions of the car. It is likely that the two companies will work jointly on the development of new models.
The SAIC already has tie-ups with Volkswagen and General Motors.
