Administrators are considering three rival proposals to buy Britain's MG Rover and said last night a deal that would revive production was expected soon.
Shanghai Automotive (SAIC) joined forces with Martin Leach, Ford Europe's former boss, to launch a joint bid yesterday that they said may save up to 1,600 jobs at the bankrupt carmaker's plant.
Chinese rival Nanjing Automotive was also in talks with administrators PricewaterhouseCoopers (PwC).
British businessman David James has been seeking a government loan guarantee to get his separate proposal off the ground, sources said.
PwC did not name the interested parties but said they planned to acquire all of MG Rover and Powertrain, MG Rover's car and engine-making business.
MG Rover filed for bankruptcy in April under debts of £1.4 billion, and with the loss of 5,000 jobs, after the carmaker was forced to close its production plant at Longbridge in central England.