BMW says the talks with the Phoenix consortium are now the only chance of avoiding the closure of Rover, which employs thousands of workers — many at the Longbridge plant in Birmingham in the English Midlands.
Phoenix says it wants to keep Rover as a mass producer of cars, unlike Alchemy Partners, whose negotiations to buy the group collapsed on Friday.
BMW says it will retain a smaller plant at Oxford to build a new Mini. BMW bought Rover six years ago, but has failed to make it profitable.
Is the Editor of the Parkers website and price guide, formerly editor of Classic Car Weekly, and launch editor/creator of Modern Classics magazine. Has contributed to various motoring titles including Octane, Practical Classics, Evo, Honest John, CAR magazine, Autocar, Pistonheads, Diesel Car, Practical Performance Car, Performance French Car, Car Mechanics, Jaguar World Monthly, MG Enthusiast, Modern MINI, Practical Classics, Fifth Gear Website, Radio 4, and the the Motoring Independent...
Likes 'conditionally challenged' motors and taking them on unfeasible adventures all across Europe.