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The new MG Lola Le Mans car unveiled at the NEC Sportscar show. Click for larger image. For more show photos click here

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MG Rover have announced that it had entered into an agreement to purchase the assets of the Italian subsidiary of Qvale Automotive Group. The company, based in Modena, Northern Italy employing 70 people, manufactures the Mangusta sports car.

Using the outstanding chassis and engineering of the Qvale project, coupled to a 
4.6 litre V8 powertrain producing up to 380 Ps, MG Rover is designing a new luxury high performance sports car. Today the first design sketch is revealed of the new car code-named MG X80 and styled by MG Rover’s world renowned design director Peter Stevens.

The MG X80 will be launched in 2002 giving the MG brand a world class product in the high performance luxury sports car sector. Both coupe and roadster versions are planned with manual and automatic transmissions. The new car will be positioned above the existing MGF roadster, the new MG sports saloons and sports-wagon that will be launched this summer.

Kevin Howe, chief executive of MG Rover said: "The MG X80 will be an excellent fit at the top of our family of MG cars. It also provides an opportunity to look at markets where we are not currently represented. In particular the USA market, the world’s largest sports car market, where we can now seriously evaluate the full potential for the MG brand."

Bruce Qvale, president of Qvale Automotive Group said: "MG Rover showed an interest in our Mangusta car project in Modena and we have agreed a good deal for both sides. The power of the MG brand now takes the project forward on a global basis."