[2] The car, codenamed W261 during development, is the work of a joint Anglo Chinese collaboration with ex experts of Rover, at consultancy firm Ricardo 2010 and SAIC had car development team.

The 550 was previewed at the 2007 Shanghai Auto Show, in the form of the Roewe W2 concept car.

[3] The drivetrain uses a 1.8 litre 160 bhp (119 kW; 162 PS) engine based on the Rover K engine with 2.0 litre turbo diesel forecast to join the range and a choice of five speed manual, or five speed automatic transmission.

The car features a high technology interior with digital instruments (the Roewe D5 DIGI-NEXT system) and the RMI (Roewe Multimedia Interface, the predecessor of the SAIC InkaNet 3G/4G interface which was later installed in Roewe 350, Roewe 360 and MG GT) digital multimedia interactive system, a multi functional audio and video entertainment system with Bluetooth hands free system, USB interface and GPS.

A restyled hatchback version of the Roewe 550 was announced at the 2009 Shanghai Auto Show as the MG 6.