BMW says it will meet its target to build a new £60m Rolls-Royce headquarters and manufacturing centre at Goodwood in order to deliver a new car in January 2003.

"The timetable is challenging but achievable for the team," said Karl-Heinz Kalbfell, senior vice president BMW Group marketing and director of the Rolls-Royce Project.

Construction work on the manufacturing plant and head office will be completed before the end of next year. More than 1,000 applications have also been received for employment at the new plant. Dealer candidates have been nominated for the UK home market as well as for various countries on mainland Europe and for other overseas markets. The final design for the all new Rolls-Royce motor car has also been approved.

BMW acquired the rights to the Rolls-Royce brand in 1998 and will take over full responsibility in 2003 as a stand alone company within the BMW Group.