Nanjing Automobile and Healey Automobile Consultants, in conjunction with HFI Automotive, will be collaborating on the future development of the Healey and Austin Healey brands and sports cars bearing their name.
The agreement puts an end to longstanding issues about ownership of the brands and trademarks and expands opportunities for joint trade between the companies.
Nanjing Automobile is the Chinese parent company of Nanjing Automobile UK, which acquired the assets of MG Rover in July 2005.
It is engaged in the manufacture and sale of automobiles worldwide and recently re-inaugurated production of one of Britain's favourite sports cars, the MG TF, at its Longbridge plant.
HFI is engaged in the design, development, manufacturing and sale, worldwide, of sports cars and is the automotive partner of Healey Automobile Consultants, the owner of the Healey brand (providing automotive design, engineering, manufacturing, logistics, sales and marketing and consultancy services to HAC.
Nanjing Automobile has 32 subsidiary companies and more than 400 affiliated companies, including NAC-MG, Nanjing-Yuejin, Nanjing-FIAT, and Nanjing-IVECO, four whole vehicle companies which produce three series of products, over 400 types of vehicles (excluding MG).
Apart from the production of whole units, Nanjing Automobile owns companies that produce automotive components including chassis, brakes, gears and transmissions, in addition to a business providing foundry and metalworking services and vehicle equipment.
In July 2005, Nanjing Automobile successfully purchased parts of MG as part of an international strategy. NAC's mission is to 'revive, maintain and develop MG' for the benefit of both Chinese and global consumers, and plans to produce and sell MG cars in the UK as well as in China.