On 18th September 2006, the leading motor company Ford announced its desire to purchases the name of Rover from BMW. The Land Rover sport utility car was sold to ford motor company in 2000.
Initially, Ford, the motor company, refused for the brand name Rover when the company purchased the luxury brand name for its track division. In august, the BMW official told about the company's decision to sell the brand name of Rover for a secret amount to an unknown customer.
According to Deep, a spokesperson, for Dearborn-based Ford that it is in the favor of the Land Rover business to finalize this deal. He declined to disclose what Ford was to pay for the name.
According to Dow Jones Newswires, China based Shanghai Automotive Industry Corporation wanted to buy the Rover brand at US$ 20.7 million. Shanghai Automotive Industry Corporation (SAIC), the Chinese associate of General Motors Corporation, is looking to manufacture vehicles under the brand name of its own.
Nanjing Automobile Group, the Chinese automaker, acquired Britain based bankrupt MG Rover in 2005 but the SAIC holds the technology for Rover models.
The German automaker offered MG Rover authorization to use the brand name forever under a licensing deal and told it would think about letting a different company use its brand name.
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