First MG was bought out by Chinese automaker Nanjing and now the Rover brand has been bought by another Chinese company, Shanghai Automotive Industry Corporate (SAIC). Since the collapse of Rover in 2005, asset value has dropped from £200 million to a bargain price of £67 million. It's rumoured SAIC paid even less than this for the rights over the Rover brand.

The two brands haven't been in competition with each other since 1968, this time round management will be under the watchful eyes of their Chinese parent companies. The first models to be produced will be closely related to the former company’s designs, however, still on the drawing boards are several new models including sedans, coupes and roadsters.

No word on whether SAIC plans to export or even produce vehicles in the US, but if Nanjing are doing it with the MG brand, you can be sure Rover will return to the US as well.

[Source: Financial Times]

Pictured above is concept sketch of a possible new Rover sedan. Click here to see more concept images.