George Soros to back Chery for US exports?

[nadepalma]

Source: http://worldnetdaily.com/news/articl...TICLE_ID=50619

THE NEW WORLD DISORDER
Globalists back China in auto exports to U.S.
Soros, Strong to invest hundreds of millions in American dump of cheap 'Cherys' next year



George Soros, the billionaire who bankrolled Moveon.org, and Maurice Strong, a major backer of the United Nations and environmentalist causes, are considering pouring hundreds of millions into a Chinese state automaker with plans to begin dumping cheap exports on the U.S. market next year, WND has learned.

The "Chery" is a knockoff of the South Korean Spark, sold in the U.S. in partnership with General Motors. GM filed a lawsuit against Chery Automobile Co. for piracy of the car developed by its South Korean affiliate Daewoo.

The lawsuit, launched in the name of GM Daewoo Auto & Technology Co. Ltd, contends Chery's QQ copied the design of Daewoo's Matiz, while Chery claims it developed the QQ on its own. GM's investigation results showed the two vehicles "shared remarkably identical body structure, exterior design, interior design and key components."

Meanwhile, the Chery QQ sells in China for $3,600.Chery sold about 50,000 of these last year in China and is planning to begin exporting cars to the end of 2007. Some auto industry analysts suggest the low price on the Chery is the partly the result of the "borrowed" technology and design.

Until now, Chery has focused on exports to 10 other countries, including Iran, Iraq, Bangladesh, Cuba, Syria and Malaysia. But now, with the help of at least two prominent mega-investors – Soros and Strong – China is making big plans for a major push into the North American market.

The marketing genius behind the push is Malcolm Bricklin, best known for the failed 1980s effort to promote the Yugo in America. The list price on the Chery is expected to be around $20,000 in the U.S.

The plan is to sell 250,000 Cherys in the U.S. in the first year through 250 dealerships, with a target of 1 million by 2010.

Most Americans are familiar with the name Soros because of his involvement in U.S. presidential politics in 2004. Less familiar to them is Canadian Maurice Strong.

He served as secretary-general of the 1992 Rio Earth Summit conference. He also served as special adviser to the U.N. secretary-general on reform years before the oil-for-food scandal.

Strong made his fortune in oil and utilities, but is a self-described socialist. he once said that for humanity to survive, it may be necessary "for industrial civilization to collapse."

Strong has close connections with numerous influential leaders in business and government around the world – including the United States – and is considered a possibility to fill the post of secretary general of the U.N. when the position again becomes open. In his U.N. role, Strong has floated the idea of eliminating single-family houses, air conditioning and convenience foods as a way to conserve energy and save the environment.

More Here

[nadepalma]

More info on this (though very small amount) from Detroit News

Source: http://www.detnews.com/apps/pbcs.dll...606130318/1001

Soros son may invest in Chery venture

Jonathan Soros, son of billionaire George Soros, is in talks to invest close to $200 million into a venture to sell Chinese cars in the United States, according to people familiar with the negotiations. Malcolm Bricklin, founder of Visionary Vehicles , retained investment bank Atlantic-Pacific Capital Inc . to raise $200 million for his venture with Chinese carmaker Chery Automobile Co . The bank is in talks with Soros, who would provide the majority of the funds, the people said.

[Bravada]

The "Chery" is a knockoff of the South Korean Spark, sold in the U.S. in partnership with General Motors.

If they want to pursue and agenda, they'd better get their facts right. This one sentence totally destroys their credibility. I guess they might have heard the bells ring, but they don't know in which church. I guess the Detroit News story is what is really the... rumour

Anyway, I guess even if they didn't pay a dime for QQ's design, it is far too outdated to seriously compete in developed markets, and will be even more so. They will have to shell out for the development of new models - and they apparently have, given the A5 (or whatever the sedan is called) and the crossover. The results are underwhelming from I've seen and read. I guess this might another Yugo.

[SobeSVT]

Originally Posted by Bravada

If they want to pursue and agenda, they'd better get their facts right. This one sentence totally destroys their credibility. I guess they might have heard the bells ring, but they don't know in which church. I guess the Detroit News story is what is really the... rumour

Anyway, I guess even if they didn't pay a dime for QQ's design, it is far too outdated to seriously compete in developed markets, and will be even more so. They will have to shell out for the development of new models - and they apparently have, given the A5 (or whatever the sedan is called) and the crossover. The results are underwhelming from I've seen and read. I guess this might another Yugo.

Exactly my thought . . .

[j_granlund]

20k,ouch.

[ScottS]

How on earth does a guy whose recent sole objective has been to tear down the globalist Bush and promote Democrats, turn around with a straight face and encourage dumping of Chinese cars on our soil? Wow.

[VGT]

Ugh, George Soros. What a loony Nutbag.

[Greg Burr]

Why does he do this? Because American car companies are symbols of American power, and he hates American power.

What a nasty illegitimate child!

[darknight9]

Good luck eliminating single family homes and air conditioning. Any socialist douche kabob that swings over looking to take my house and air con is going to be met by an angry Mr. Glock...

The last thing our lopsided economy needs is another Chinese import. But, if they decide to bring them over, the Wal-Mart Tire and Lube Express would be a great place to market these. At least this way, we could keep most of the things imported from China in one place.... Wal-Mart...

[kenman923]

Another reason for me not to buy a Chery.

[T-Type]

This story was alarming until I say the 20k price tag. They're dreaming if they think they can make a dent in the US market at that price. There's plenty of well established cars that can be had for that. Someone would have to be nuts to take a chance on a Chery at that price.

Now if their price was very close to 10k, then that would be something to be worried about.

[1G6]

Originally Posted by Greg Burr

Why does he do this? Because American car companies are symbols of American power, and he hates American power.

What a nasty illegitimate child!

Couldn't have said it better myself.

Import lovers - look who is lining up with you against the expansion of American might.

[GM_Fanatic]

ah, even more reason for Chery to fail!

[Havasavana]

Is this true or just another of Bricklin's ploys to suck in investors? Some will disagree with Soros's views, but he's no fool, and I really think it would take a fool to get anywhere near Bricklin. I see nothing in the WSJ about this. Let's wait for some follow-up to this.

[Aromanances]

Soros is a economic grave robber. With any luck he will lose his ass on this. But whats a few hundred million to this dirt bag.