Nanjing signs Longbridge lease

• 33-year lease signed today
• August get-out clause for car maker
• Car production a step closer

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Chinese car manufacturer Nanjing Automobile has signed a long-term lease for the former MG Rover plant at Longbridge in the West Midlands.

The move could restart production of the MG TF sports car in 2007, although the 33-year lease will have a get-out clause allowing Nanjing to leave Longbridge in six months if it fails to find any finance.

Nanjing's UK chairman Wang Hongbiao said: 'This means that we can move forward with our business plan to build cars at Longbridge.'