MG, the venerable British marque not sold in the United States since 1980, is planning a return to North America as a key component of a global revival strategy.

China’s Nanjing Automobile Corp., which bought the MG brand after MG Rover collapsed in 2005, announced the formation of MG Motors North America/Europe Inc. and plans to start vehicle production in Nanjing, China; Longbridge, England; and Ardmore, Oklahoma. Nanjing executives are expected to provide detailed plans for MG at the British International Motor Show in London July 17.

MGs will first be sold in Europe in 2007, followed by reintroduction to the United States in late 2008. Three sedans, formerly known as ZR, ZS and ZT, along with the TF Roadster and TF Coupe will be sold in European markets, while the U.S. launch will feature the TF sports cars followed by two sedan models.

Leading the MG revival is U.S. automotive executive Duke T. Hale, who will serve as president and CEO of MG Motors. Hale resigned in February after two years as CEO of the Lotus brand in the States; he also has worked for Volvo, Mazda and Isuzu.

MG—short for Morris Garages—got its start in 1923 building sporty versions of Morris cars. MGs were first imported to the States in 1947, launching the British sports car craze in America.

According to newspaper reports, the official announcement about U.S. production is supposed to come later today.