Advertisement SHANGHAI -- Nanjing Automobile Group has set up a $226 million (1.8 billion yuan) unit to oversee the development of its own-brand cars based on technology bought from failed British car maker MG Rover, state media said today. Nanjing Auto will hold 22.22 percent of the new subsidiary -- set to roll out its first self-developed car by March next year -- with six other local firms sharing the remainder, the official Shanghai Securities Journal said, citing unnamed sources. Nanjing Auto, a obscure player based in eastern China, took over MG Rover last year, outbidding larger domestic rival SAIC Motor, the country's top carmaker. It stunned the industry again in July by announcing plans to build China's first car plant in the United States -- a facility in Oklahoma offering a full range of MG sports cars and sedans, including the TF roadster and the new TF Coupe. The firm will also assemble vehicles at Rover's now-closed Longbridge assembly plant near Birmingham, England, and at its home base in China. SAIC, General Motors' and Volkswagen AG's China partner, has committed $214.8 million (1.71 billion yuan) to develop its own-brand cars based on the the acquired Rover 25 and 75 platforms, with an eye on developed markets, including Europe. But some industry executives and analysts are skeptical of their capability to revive a failed British car brand on its home turf.