Sunday, March 25, 2007
MG SETBACK: Nanjing seeks Chinese government aid
NANJING AUTOMOBILE, which hopes to see production of MGs re-commence at Longbridge in the UK, next month, is asking the Beijing government for financial support.
China's oldest car-maker has asked the National People's Congress (NPC) for support, fuelling rumours that the company is in difficulty.
The company is reported to have submitted a proposal to the NPC, seeking government support for up to three billion yuan (about £200m, $390m)
The Chinese car-maker plans to start production of MG cars in Nanjing, next week.
It is planning to build 200,000 MG vehicles in Chine over the next 5-years.
DATED: 25.03.07
FEED: AW
China's oldest car-maker has asked the National People's Congress (NPC) for support, fuelling rumours that the company is in difficulty.
The company is reported to have submitted a proposal to the NPC, seeking government support for up to three billion yuan (about £200m, $390m)
The Chinese car-maker plans to start production of MG cars in Nanjing, next week.
It is planning to build 200,000 MG vehicles in Chine over the next 5-years.
DATED: 25.03.07
FEED: AW
