Chinese company Nanging Automobile's plans for Longbridge remain unclear four months after it bought the remains of MG Rover out of administration for £53 million.
David Malpass of Accelerate, the Birminghambased motor industry support organisation, yesterday gave an update on the position at Longbridge to more than 100 delegates at a conference organised by Black Country Chamber and Business Link.
"The Nanjing position is uncertain," Mr Malpass said.
"We have had a declaration that, yes, they will invest at Longbridge. But to this end the Government is taking a bit of a reserved view and are waiting to see where and when this investment will take place.
"We are not expecting an immediate announcement," he added.
However, delegates also heard automotive industry guru Garel Rhys of Cardiff University Business School express scepticism about the resumption of car production at Longbridge following MG Rover's collapse in April this year.
"It looks as if MG Rover is lost," Prof Rhys said.
"With every day that passes it is becoming more and more difficult for anything to come back to Longbridge."
The comments by Mr Malpass and Prof Rhys followed unconfirmed reports that Nanjing has struck a deal with GB Sports Car Company, the company set up by Fraser Welford-Winton, the former managing director of Rover's Powertrain engine plant, to resume production of sports cars under the Austin Healy brand.
The conference, staged at Wolverhampton Science Park under the title "Moving up a Gear", was aimed at convincing local supply chain companies that they have a good future despite the gloom surrounding the crash of MG Rover.
John Reader, chief operating officer at Black Country Chamber and Business Link, said the area was still "at the heart of British manufacturing".
Following the collapse of MG Rover, a total of £870,000 had been spent on helping nearly 50 Longbridge supply companies in the area diversify and find new customers and 142 jobs had been secured, he added.
Dave Allen, production and purchasing director of Jaguar, Land Rover and Aston Martin, and John Forster, senior purchasing manager at Toyota UK, told delegates that there was still a place for locally-based supply chain companies.
But companies wanting to continue to trade with the carmakers needed to become more innovative and help their customers to drive down costs.
Mr Allen said: "There is no doubt there will be consolidation but for those companies lucky enough to be part of that the future is going to be very bright."