The management of Recycling.co.uk MG XPower Litespeed has been informed by Price Waterhouse Cooper, administrators for the MG Rover Group, that MG Sport and Racing Ltd had been taken into joint administration. It had been thought the separate company would not be impacted by the MG Rover collapse.

Brit team’s future unclear after MG Rover collapse

Around 25 staff remain at MG Sports and Racing Ltd, co-sponsor of the Recycling.co.uk MG XPower Litespeed team.

A statement from the team management said:

"At present it is unclear as to the immediate consequences of this action on logistical support currently provided by MG Sport and Racing Ltd and no further information is available at this time."

In other news...

Global e-bike market set to be worth over $120 billion by 2030

The global e-bike market size is expected to be worth over $120 billion by 2030, …