SAIC buys Nanjing, finally gets MG
SAIC has gotten the last laugh, however, with its recent purchase of Nanjing. Nanjing bought Rover for an estimated $100 million back in 2005, while SAIC reportedly has agreed to pay around $1.9 billion for Nanjing.This means that everything SAIC lost out on in the bidding war over MG it has gained by acquiring Nanjing. Most importantly, this includes the Longbridge production facility. SAIC already has an R&D center in Britain, which it will consolidate with the Longbridge facility and use to begin production of vehicles in Europe. The automaker claims production of the MG roadster, as well as other MG models, will begin soon, though SAIC can also use those facilities for development and production of new vehicles for the European market sold under its own name. Why is MG so darn important to these Chinese automakers? As an established European brand with some street cred, MG is a small company that offers the Chinese an easy way into the lucrative European market. Perhaps instead of Rovers, we'll soon see Roewe sedans on the streets of London.
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