A bit more information on this engine and why it is considered worthy of being fitted in an MG:
PETRONAS E01 engine commercialization in China
PETRONAS E01 engine is an aluminum engine with very compact design, which allows it to be fitted into various vehicle platforms with customised intake and exhaust manifold to match vehicle requirement. Among the same class of engines, E01 engine exceeds in its light weight, low fuel consumption, high output, high acceleration and Euro V emission.
PETRONAS is a Fortune Global 500 company with business operations in more than 30 countries. The PETRONAS E01 Engine was a result of PETRONAS' involvement in the Formula One when it became, in 1995, the main sponsor of the SAUBER PETRONAS Team. The collaboration provided it with the opportunity to engage in the value-added automotive engineering technology R & D. One of the immediate fruits of this collaboration was the successful development of the PETRONAS E01 Engine by a group of PETRONAS engineers. The PETRONAS E01 Engine was also fitted into the official cars of the PETRONAS Malaysian Formula One Grand Prix. For the year ended 31 March 2005, PETRONAS recorded gross revenue of US$36.1 billion and a pre-tax profit of US$9.4 billion.
The chief designer of this engine was Osama Goto who came to Sauber Petronas from the Ferrari F1 team and before that the Honda McLaren Formula One team where his engines propelled Ayrton Senna to 3 F1 world titles.