It was reported in the China Daily that China’s SAIC, MG’s current parent company, has signed an agreement with Thailand’s Charoen Pokphand Group (CP) to build a joint venture plant in Thailand to make MG cars, SAIC said in a statement posted on its website.
The initial investment in the plant, which will have an annual capacity of 50,000 cars, will be 1.8 billion yuan ($285 million), with SAIC taking a 51 percent stake and the CP Group taking 49 percent.
7-Eleven MG.
They are sure that MG, which has been committed to the Australian market, will now boost its exports to Southeast Asian countries and to New Zealand in the future. It has also set up operations in the United States, to facilitate its development in North America.
How the mighty have fallen! The once proud name of Morris Garages, shortened to MG, was emasculated by British Leyland’s mis-management and eventually chopped up to make fried rice. SAIC bought the assets of the UK vehicle manufacturer MG Rover in July 2005.
