BMW has agreed to sell the rights to the Rover nameplate to Chinese automaker Shanghai Automotive, according to the U.K.’s Birmingham Post. The company will pay around over $20 million for the name, the report said. Last year, another Chinese automaker — Nanjing Automobile — bought the MG component of the MG Rover organization for $92 million. The Post reported that a new model had been designed, and would be unveiled in the near future.
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