The Chinese owners of the MG sports car brand plan to invest heavily and launch new models to grow MG around the world, with Europe being the main target market.
Shanghai-based parent, SAIC Motor Corp, owner of MG Motor UK, has already spent 1 billion pounds in resurrecting MG and its sister brand Roewe, formerly Rover, and will now spend another 2.2 billion pounds to boost MG and Roewe sales to 700,000 by 2015.
MG launched sales of the MG6 compact car in the UK, the first new car assembled at its Longbridge, England, plant in 16 years, in April. The model will go on sale in mainland Europe next year when a diesel engine is ready.
MG has a range of six new models at various stages of launch or development including the MG3 small hatchback, and the MG5 to compete against VW's Golf and Ford's Focus.
