Under the plan, Riley would buy out the rights to the MG Sports and Racing brand and then develop a range of high-performance MG sports cars and hand built Rileys. A new enviro-friendly factory would be set up in the Blackpool site with a similar facility to be built in the US to create LHD versions. Up to 100 ex-TVR employees could be hired to work in the new British plant, which is expected to churn out close to 1,800 cars per year by 2010.
The talks, which began last week, are still at a very early stage but Riley is very confident and has asked the local council to draw up a contract for the production site. He secured the rights for the Riley brand back in 1999 and is now in the process of gaining the rights to the MG sports label. Riley hopes to secure the deal within the next seven to ten days, with the first cars to be produced likely to be the MG X-Power SV and another up-market MG X-Power roadster and coupe.