LDV BOUGHT BY CHINESE COMPANY
After production stopped at LDV's Birmingham site in December 2008, the van maker's assets have now been acquired by the Chinese company Eco Concept Ltd, a special vehicle engineering company owned by Dr Qu Li. The assets were bought from the CV builder's administrators, PricewaterhouseCoopers, for an undisclosed sum.
The new owner is the Chairman of the automotive consultancy, China Ventures. She previously worked for the management of of MG Rover. Eco Concept aim to take on around 200 workers and build approximately 2,000 specialist vehicles a year. LDV's plant in Birmingham is considered not viable for this operation and a new site in the area will be sought. The company plans to relocate the LDV assets from Birmingham when the deal is complete.
