MG is a British sports car manufacturer founded in 1924, although no cars have been made since MG Rover went bankrupt in the spring of 2005. MG cars are expected to resume production in January 2007 under new owners Nanjing Automobile Group.MG got its name from "Morris Garages", a dealer of Morris cars in Oxford which began producing its own customized versions to the designs of Cecil Kimber who had joined the company as its Sales Manager in 1921 and was promoted to General Manager in 1922.MG is best known for two-seat open sports cars, but MG also produced saloons and Coupés. More recently, the brand has also been used to designate sportier versions of other models belonging to the parent company."MG" might stand for something new under its new Chinese owners. Nanjing boss Zhang Xin said: "We want Chinese consumers to know this brand as 'Modern Gentleman'. To see that this brand represents grace and style."