probowler Posted August 9, 2020 Share Posted August 9, 2020 Quote China wields coronavirus to nationalize American-owned carmaker Police and private security forces raided the headquarters on June 29 China enticed an American entrepreneur with the opportunity of helping build a cutting-edge automobile company in the world’s largest car market, then used the uncertainty cast by COVID-19 to steal his intellectual property, the businessman says. Steve Saleen, founder of specialty high-performance sports car manufacturer Saleen Automotive, and his partner Charles Wang, a Chinese immigrant and former attorney at a New York law firm, were approached in late 2015 about forming a joint venture with the city of Rugao to manufacture automobiles. The deal “offered, I thought, from my standpoint, a great opportunity to help build a global company,” Saleen told FOX Business. The agreement that was reached called for Saleen to contribute his brand and trademarks, designs for three engineered vehicles and experience, know-how and technology in manufacturing automobiles, he said. Those contributions were valued at $800 million. Wang, who helped structure the deal, would serve as the company’s chief executive officer. Full Story I know Saleen has done fords before but I don't think they're currently affiliated, so I put this here in competing products. Moral of the story when dealing with communists: 1 Quote Link to comment Share on other sites More sharing options...
bzcat Posted August 12, 2020 Share Posted August 12, 2020 Sort of like Trump forcing ByteDance to sell Tiktok to Microsoft Quote Link to comment Share on other sites More sharing options...
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