First to hit the road...

First to hit the road will be a reworked version of the popular TF roadster, due to be launched in mid-2007. Next will be a hard-top version called the TF GT, as well as three family cars based on reworked versions of the Rover 25 and 75 platforms.

New factories are also planned - one in the US in Oklahoma and another in China, while the ex-MG Rover site at Longbridge in the Midlands will also be used.

But it"s news of the TF GT that many MG enthusiasts are getting excited about. Although information about the newcomer is scarce, it"s expected that it will go on sale in 2008 and be powered by a 2.5-litre V6 engine delivering at least 200bhp. The newcomer will be capable of sprinting from 0-60mph in less than six seconds on its way to a maximum speed of 145mph.

Updated door mirrors, which include indicator lamps, plus electronic door opening buttons, are due to be shared with the standard TF roadster.

But the big V6 is not the only option open to MG"s engineers. There are rumours that the firm is also set to resurrect work started in 2004 on a special 200bhp hybrid powertrain.

With a 160bhp K Series engine driving the rear wheels and a 40bhp electric motor powering the front, the TF is expected to be brought back to the test track in the coming months.

News of MG"s imminent revival isn"t great for every fan of the marque. Project Kimber, the British consortium led by entrepreneur David James, had hoped to use the famous badge on its own car, which would have been based on a Smart Roadster. James had signed a deal with Smart that would have allowed him to use the Roadster"s chassis, and was even reported to have found a high-profile designer to rework the car"s body panels.

However, despite the fact that the future of the project may look uncertain, a spokesperson for Kimber said: "We can confirm we are no longer looking at the MG brand, but we are still in discussion with other parties and our plans to launch a sports car remain unchanged."