Alchemy reveals plans for new car range

Alchemy said it would develop a new range of sports cars and sports saloons under the MG brand, phasing out the use of the Rover name. It will use the latest aluminium and composite technology as used in the Lotus Elise, a move that will see dramatic changes to the manufacturing and design of the cars in the UK.

Managing partner of Alchemy Partners, the investment group that yesterday announced it had bought the Rover Cars business from BMW, said the group is aiming for a volume of around 100,000 units a year, a major reduction on Rover’s current capacity.

Engineers working at the Gaydon engineering centre are expected to stay with BMW, it was announced today.