The MG X80 sports coupe will compete from next summer against the Porsche 911, Maserati 3200GT and Jaguar XK8, says MG Rover.

Based on the former Qvale Mangusta, acquired by MG Rover in June, it will “be built in hundreds and cost under £50,000”. An X80 roadster will be launched in 2003.

The aluminium-bodied MG X80 (codename) will be powered by a 4.6-litre V8 engine. Possible features include electronic traction control, ABS, 18-inch alloy wheels, leather interior and six-speaker audio. The car is positioned at the head of the MG range. A Rover spokesman said: “The X80's drive and ride quality means we can compete against the Porsche, while remaining affordable.” MG Rover sponsored the launch (for “a five-figure sum”) of the X80 on Microsoft's MSN Carview site.