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Old 09-21-2009, 12:11 AM   #40
KiwiGuy
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Default Re: SAIC business news

SAIC to buy van maker LDV
From China Car Times:
Quote:
Dr Li’s China Ventures operation is said to be the only bidder now left in exclusive talks with LDV administrators PricewaterhouseCoopers following suggestions that Malaysian group Weststar has finally walked away.

Last week’s long awaited Longbridge inquiry report revealed that Dr Li was paid 1.7 million for consultancy work with MG Rover over a 15-month period.

Dr Li, whose affair with Nick Stephenson was exposed in the report, refused to deny the LDV claim.

Some industry experts have said that a takeover by China Ventures could spell the end for van-making in Birmingham, with a “lift and shift” operation to China ruining hopes of a resumption of production at Washwood Heath.

But a well-placed source said: “Dr Li has very well established contacts with Nanjing and SAIC. Instead of moving the LDV kit 10,000 miles to China, wouldn’t it make far more sense to move it 10 miles to Longbridge?”

For those that aren’t aware who exactly Dr. Li is, she was the girlfriend of an MG-Rover executive that drove MG-R into the ground before selling up to NAC
The odd thing is, SAIC already have a van producing JV going on with IVECO, but what they don’t have is their own IPR to produce their own branded vans. Perhaps what we might see in the future is a full size MG van? Stranger things have happened.
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