LDV needs £1m a week
“They met GAZ in London and they will be requesting a meeting with the Government.
“There were three serious major international groups interested but all the focus has now been placed on one.”
Mr Jones said the threat of administration was still hanging over the van-maker, which has been at a production standstill since December 12.
“But all we are focusing on is trying to bring this to a conclusion and secure manufacturing jobs here. If we go into administration it is a completely different kettle of fish.
“But we are not working on anything like that. Our aim is to secure a manufacturing plant and jobs in Birmingham.”
If the management buy-out from GAZ is secured, a fresh era will be launched at the Drews Lane factory with the launch of a brand new range of electric commercial vans.
Neither LDV nor Mahindra and Mahindra have confirmed the identity of the investor after agreeing confidentiality. PricewaterhouseCoopers made no comment on its reported advisory role.
