Longbridge landlord St Modwen has drawn up a plan B for the site should negotiations with Nanjing Automobile fail.
Chairman Anthony Glossop said the company was preparing for all eventualities but dismissed reports saying the end of the lease agreement with MG Rover's new owner on February 22 was a "do or die date".
Negotiations with Nanjing were still ongoing he said, with the priority to retain some form of automotive manufacturing on the site.
Mr Glossop said: "We hope that by February 22 there will be something in place, but it is not a do or die date at all.
"Nanjing have said they want to keep something on the site and we will keep talking."
It has been suggested that the prospect for 1,200 jobs, which had been promised by Nanjing at Longbridge, was in jeopardy because of the protracted negotiations.
Mr Glossop said between a quarter and a third of the 450 acres site had been earmarked for automotive use.
"We have been talking to the council about plans which involve Nanjing and plans which don't.
"One scheme would be a high technology manufacturing site, anchored by Nanjing. Plan B is a bringing in high tech manufacturing, some retail, some housing and a community centre.
"We have to have two plans because we don't want to see an empty site."
Mr Glossop said negotiations with Nanjing were progressing well, and would continue past February 22 if necessary.
"We want an agreement that sorts the medium term future. Until somebody finally says there is no hope of anything happening our first wish is to have some form motor manufacturing at the site."