The Nanjing Automobile Corporation has teamed up with Healey Automobile Consultants and HFI Automotive to collaborate on the development of the Healey and Austin Healey sports cars bearing their name.

The Chinese manufacturer said the agreement put an end to long standing issues about ownership of the brands and trade marks and expands opportunities for joint trade between the companies.

HFI is engaged in the design, development, manufacturing and sale, worldwide, of sports cars and are the automotive partner of the owners of the Healey brand.

NAC said it would make a further announcement ‘at the appropriate time’.

NAC acquired the assets of MG Rover in July 2005. It recently re-inaugurated production of the MG TF, at its Longbridge plant.