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Corporate Business

MG Preparing an Array of New Models

SAIC Motor Corporation, the owner of MG Motors, plans to develop several new models for the British brand in order to boost sales outside its home market in China. The Chinese owner of MG Motors has already spent £1 billion ($1.64 billion) to re-launch the MG and Roewe brands (former Rover) and intends to invest another £2.2 billion ($3.6 billion) to achieve annual sales of 700,000 by 2015. In 2010, the two brands sold 160,397 cars, most of which were delivered in China, with only 2,000 units exported to other markets. This past April, MG launched its new mid-size MG6 in the UK, the first new car to be assembled at the British firm’s Longbridge plant in 16 years. The company said that when it completes the development of a diesel version, it will offer the car to rest of […]