The Rover brand name is to be bought up by Ford Motor Co., from BMW, it was announced today. In a statement today a spokesman said, We feel it is in interests of our Land Rover business to have the Rover brand…We are acquiring it and we're not looking to sell it. We believe it is a valuable asset for us, reports Reuters.

Ford bought Land Rover from BMW in 2000, and have held onto the rights to buy the Rover name, a right they are now exercising.

Until Ford had exercised its right there was a belief that the name would be bought by Shanghai Automotive Industry Corporation, who already have the rights to build a two Rover vehicles.