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Nanjing Automobile Group and Healey Automobile Consultants' sister company, HFI, say they will collaborate on the development of the Healey and Austin Healey brands and sports cars bearing the name.

The pair say the agreement puts an end to long standing issues about ownership of the brands and trade marks and expands opportunities for joint trade between the companies.

Nanjing Automobile Group is the Chinese parent company of the company that acquired the assets of MG Rover in July 2005.

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