Debut of First Chinese-Built and Owned MG

For anyone opposed to the US government's auto bailout plan, get ready for yet another reason why your thinking is and was stupid wrong. With all due respect towards Capitalism, sometimes government action is needed. Case in point: MG, the iconic British automaker, now owned by SAIC (Shangai Automotive Industry Corporation). Now try, albeit painfully, to picture a Chinese-owned and built Chevy Camaro.

As a result of letting the brand suffer without national assistance, we're seeing pictures of the first Chinese-built MG, called the MG3. At launch, the standard and only power will come from a 1.5-liter gasoline engine with 110 hp and 135 lb-ft of torque. Transmission choices are either a five-speed manual or four-speed automatic. It'll later be offered with a smaller 1.3-liter with 68 hp and a more powerful 1.5 Turbo with 158 hp. Diesel engine options are also being considered. Painful enough yet? It gets worse.