BMW/Shanghai Automotive talks still in progress for Rover name
The UK's Financial Times is reporting that BMW has agreed to sell the Rover name to an eager Shanghai Automotive Industry Corp. (SAIC), new owner of the design rights to many of the vehicles owned by MG Rover before the company dissolved due to huge debts. FT reports that the German luxury automaker will complete a deal wtih SAIC in September in which BMW will hand over the rights to the Rover name for about $1.9 million, citing sources close to the deal. BMW, however, responded to the report today, indicating that talks are still in progress and no deals have been struck.
Nanjing Auto, the Chinese automotive company who bought MG Rover from BMW, was also talking to BMW about the Rover name. Ford Motor Company reportedly has right of first refusal to the Rover name, but is not expected to buy it.
[Source: Reuters]
Reader Comments (Page 1 of 1)
JC Whitless 6:59PM (8/16/2006)
Why doesn't Ford sell Mercury to a Chinese company...
Why doesn't DCX sell Desoto to a Chinese company...
Why doesn't GM sell itself to a Chinese company...
/troll
Reply
fizzandpop 7:03PM (8/16/2006)
Does anyone know exactly how much BMW lost in the Rover deal?
Reply
Mal Fuller 7:19PM (8/16/2006)
MG didn't make the news this often back when there really was such a thing!
Reply
Art 8:19PM (8/16/2006)
yes! a defunct carless, marketshare-less name!!
Reply
jules 5:25AM (8/17/2006)
Another question would be how much did they gain from the Rover deal? Breaking the group up included selling Land Rover to Ford, incorporating the 4x4 tecnology in to the BMW range and steering Mini to great success.
Reply