A luxury sports car looks set to be built in Blackpool under the guidance of William Riley, a descendent of the firm's founders. He also hopes to revive the MG logo on two high-performance motors based on the X-Power SV. Production is slated to start by the end of the year, with an annual target of 1,800 by 2010. The factory could even use ex-TVR workers, as it was also based in Blackpool.
Demand from the US is believed to be high, and a sister factory there is on the cards. Sources say the Riley, possibly a sporty version of the Rover 75, will cost around £60,000 and be a "genuine hand-built car". The rights to MG's Sports and Racing division remain in the hands of receivers, while BMW still owns the Riley name. However, William Riley hopes to sign a deal by the end of this week.