According to Blackpool Gazette, Riley sports cars could once again be built – this time in Blackpool. Riley said that he would bring back the Riley name, which died in 1969, but the new cars will be based on the former MGs, specifically the MG SV coupe.
He is confident of securing a deal with receivers PriceWaterhouseCoopers to buy the MG Sports & Racing brand within weeks. The main MG brand itself was bought by Nanjing Automotive.
Riley hopes to close the deal in the next seven to ten days, and the first cars to be produced likely to be the MG X-Power SV and another up-market MG X-Power roadster and coupe. Riley intends to build up to 1800 cars a year by 2010.