BMW confirmed yesterday that it had agreed in principle to sell the Rover trade mark to the Chinese company Shanghai Automotive Industry Corporation (SAIC), Guardian Unlimited reported. SAIC will pay 11 million pounds for the name. SAIC already owns the rights to Rover models, which it bought from the MG Rover group before it collapsed into administration last year. Following the demise of the UK carmaker, SAIC lost a battle with fellow Chinese automotive maker, Nanjing Automobile, for the equipment from the production lines at MG Rover's plant at Longbridge in the West Midlands, said the paper. SAIC is expected to begin producing cars using the Rover rights it already owns towards the end of this year. The price reflects the high cost of setting up a new brand and the value car buyers attach to brand history, even though Rovers will be made in China by a Chinese company.