BMW to sell Rover name to Chinese?
BMW officials are in talks with two Chinese carmakers over the sale of the Rover brand name, which it still owns, reports The Times.
The Shanghai Automotive Industry Corporation and Nanjing Automobile Corporation, both of which purchased substantial assets from the British firm when it went bankrupt last year, are both bidding for the brand name, as both intend to make models based on the former MG/Rover line-up. Nanjing owns the production lines, tooling and associated assets, and has renewed the lease on the Longbridge factory site, where it intends to re-start production using the MG brand name; SAIC has the blueprints and intellectual property rights to the 25, 45 and 75 ranges. However, the first refusal for the name is to be given to Ford, under the terms of the deal made when BMW sold Land Rover to Ford in 2000.
These talks were confirmed just as BMW announced that it expected to achieve record earnings in this financial year, with before-tax profits of £2.75bn
http://www.channel4.com/4car/news/news-story.jsp?news_id=14219
BMW officials are in talks with two Chinese carmakers over the sale of the Rover brand name, which it still owns, reports The Times.

The Shanghai Automotive Industry Corporation and Nanjing Automobile Corporation, both of which purchased substantial assets from the British firm when it went bankrupt last year, are both bidding for the brand name, as both intend to make models based on the former MG/Rover line-up. Nanjing owns the production lines, tooling and associated assets, and has renewed the lease on the Longbridge factory site, where it intends to re-start production using the MG brand name; SAIC has the blueprints and intellectual property rights to the 25, 45 and 75 ranges. However, the first refusal for the name is to be given to Ford, under the terms of the deal made when BMW sold Land Rover to Ford in 2000.
These talks were confirmed just as BMW announced that it expected to achieve record earnings in this financial year, with before-tax profits of £2.75bn
http://www.channel4.com/4car/news/news-story.jsp?news_id=14219