On July 22, 2005, Nanjing Automobile Group Co., Ltd. successfully acquired British MG Rover Automobile Company and its engine production division, which opened a precedent for China enterprises to acquire famous foreign automobile enterprises. The merged company is called Nanjing MG Automobile Co., Ltd. The new company has re-integrated the assets and resources of the former British MG Rover Company and Nanjing Automobile Group, and integrated world-class technical equipment, research and development facilities, vehicle engine manufacturing technology, top technical managers and MG brand. In April 2007, SAIC acquired Nanqi Group in an all-round way, so it became the new owner of MG brand.