Federal Auto Holdings Bhd, together with one of China’s largest listed vehicle manufacturer, SAIC Motor Corporation Limited have signed a memorandum of understanding (MOU) to revive MG here in Malaysia.
The MOU marks both companies intention to conduct further discussions with regard to the plan of rejuvenating the British brand in Malaysia. The alliance could also bring the possibility to develop facilities to produce complete knocked down (CKD) MG vehicles.
SAIC, who owns brands such as Maxus, MG, Roewe and Yuejin also manufactures vehicles under the Baojun, Buick, Chevrolet, Iveco, Skoda,Volkswagen and Wuling brands. The company is mainly engaged in the development, production, sales as well as automotive trade and financing.
FEDERAL AUTO AND SAIC PLAN MG REVIVAL IN MALAYSIA
Kuala Lumpur (April 12, 2013) – Federal Auto Holdings Bhd (FAHB), one of the most established automotive companies in Malaysia, and SAIC Motor Corporation Limited (SAIC), China’s largest listed vehicle manufacturer, have entered into a memorandum of understanding (MOU) as a first step towards reviving the iconic MG brand in Malaysia.
The MOU formalised the intention of FAHB and SAIC to conduct further discussions, due diligence and feasibility studies with regard to the reintroduction of MG vehicles in Malaysia. It could also lead to the development of facilities for the assembly of complete knocked down (CKD) MG vehicles.
FAHB, a wholly-owned subsidiary of MBM Resources Berhad (MBMR), has been synonymous with the Volvo brand since its establishment in 1960. However, the company has transformed itself in recent years by successfully adopting a multi-brand strategy that includes dealerships for global brands such as Volkswagen and Mitsubishi.
As the leading automotive company in China, SAIC is mainly engaged in the development, production, sales of and investment in passenger vehicles, commercial vehicles and automotive components and parts, as well as automotive related services such as trade and financing.
Vehicle brands owned by SAIC include Maxus, MG, Roewe and Yuejin. The company also manufactures a wide range of vehicles under the Baojun, Buick, Chevrolet, Iveco, Skoda,
Volkswagen and Wuling brands through joint ventures.
Since acquiring the marque in 2007, SAIC has ensured that MG retains its uniquely British heritage and character. A wholly-owned subsidiary, MG Motor UK Limited headquartered in Birmingham, United Kingdom, undertakes product design, development, assembly and marketing of MG vehicles.