The bid for Rover finally goes to Nanjing Automobile after a three-month battle by three companies, of which two are Chinese.
Nanjing is the smaller of the two Chinese firms, with the other being Shanghai Automotive. The third firm is Kimber group based in UK.
The deal was secured on Friday between Nanjing Automobile and Rover sale administrators PriceWaterhouseCoopers.
Nanjing Automobile is China’s older carmaker. They intend to shift Rover’s engine and car plant to China but they will retain some plants in UK. UK will also be the base of a new R&D facility.
Currently Nanjing Automobile has three major manufacturing bases – Nanjing Iveco, a wagon joint venture with Italy Iveco, Yuejin Light Truck Co and Nanjing Fiat, a car joint venture with Italy’s Fiat Auto.
Rover originally had some form of tie-up with Proton with plans of a Rover-badged Gen2 and a Perdana model based on one of the bigger Rovers.
Source: BBC News