The Phoenix Four ('guys in England') didn't get any Government money, they
got a dowry and lots of assets from BMW. They survived as long as they did
by selling assets and leasing back some of them, but eventually ran out of
money. Government money was used to support the many thousands laid off
from MG Rover and their suppliers. There is currently a Government enquiry
into how much money they took for themselves in salary, pension rights etc.
but there is still no sign of a report being published or even an expected
date for it.
In some places it is described as a merger of NAC and SAIC, encouraged by
the Chinese government, in others NAC was sold to SAIC by receivers, which
implies they went bust.
Ford acquired the rights to the Rover name from BMW to prevent any conflict
with their ownership of Land Rover, now sold to TaTa (kiddie speak for
'good-bye') with Jaguar. BMW own other ex-BL marques like Mini, Triumph and
NAC/SAIC still say they intend to re-introduce the TF assembled at
Longbridge in Birmingham, but dates continue to slip. they have built
around 30 prototypes but say there are quality problems. The UK company
that were supposed to be doing body welding have apparently pulled out of
the deal, saying the volumes aren't enough to warrant the investment.
----- Original Message -----
> Can anyone clear up what happened here? As I understand it:
> 1. BMW sold MG/Rover to guys in England.
> 2. They failed, after taking a lot of government money
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