A Chinese national car champion was created by Shanghai Automotive Industry Corp. Group (SAIC) and Jiangsu Yuejin Automotive Group, the parent company of Nanjing Automobile Corp. (NAC) as they announced a merger on December 26, 2007. Under the contract, SAIC will pay Rmb 2.095 billion (~ $285.82 million) for the vehicle and core auto parts operations of NAC. In return, Yuejin group will hold 320 million shares in SAIC. As the merger takes place, SAIC is restructuring its Roewe and Nanjing auto’s MG brand. Recent reports show that Roewe is sharing its W2 concept with MG in hopes of reviving its MG 5 series.

Shown last year at the Shanghai Auto Show, the Roewe W2 concept is a compact model which will probably sell well when it is introduced as a production car, probably called the Roewe 450, later this year. “An MG version of W2 is expected to be out in less than a year,