China wields coronavirus to nationalize American-owned carmaker

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Thread: China wields coronavirus to nationalize American-owned carmaker

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    China wields coronavirus to nationalize American-owned carmaker

    China wields coronavirus to nationalize American-owned carmaker
    https://www.foxbusiness.com/markets/...ed-car-company

    August 8, 2020
    By Jonathan Garber

    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.

    Continues at link

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Wow. Unbelievable. This should be making national headlines.

    This article has political aspects but is automotive related. I am very much unclear as to what crosses the line for the GMI staff. So if the GMI staff doesn't like this, please just delete the thread and send me an message as to why this is not acceptable vs. banning me with no explanation.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by BlackGTP View Post
    Wow. Unbelievable. This should be making national headlines.

    This article has political aspects but is automotive related. I am very much unclear as to what crosses the line for the GMI staff. So if the GMI staff doesn't like this, please just delete the thread and send me an message as to why this is not acceptable vs. banning me with no explanation.
    You beat me to this again!

    This is a significant story. Getting in bed with the devil is typically not good policy. And beware of "this looked like too good a deal to pass up." When you're dealing with a criminal, any "too good a deal" is too good. Lessons learned department, perhaps for others.
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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by BlackGTP View Post
    Wow. Unbelievable. This should be making national headlines.

    This article has political aspects but is automotive related. I am very much unclear as to what crosses the line for the GMI staff. So if the GMI staff doesn't like this, please just delete the thread and send me an message as to why this is not acceptable vs. banning me with no explanation.
    I sometimes think they don't even know themselves. Just whatever gets their panties all in a knot at the moment because it may not be or have been their viewpoint. ... Also I wouldn't touch this endeavor for the life of me considering the way the Chinese have been at times or of late.
    Last edited by 1958carnut; 08-08-2020 at 02:09 PM.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    I believe it would be impossible to have a site like GMI that discusses GM’s global product offerings manufactured by companies partially owned by GM and Chinese government entities without considering these issues. These issues affect GM’s product decisions as well as the decision where certain vehicles are manufactured. Remember in a 50/50 JV like SGM, SAIC has veto power. So when those on the list wonder why GM does or doesn’t do something trust me a Steve Saleen situation is in the back or maybe front of the mind of GM executives. I remember flying back to the US from China with Bob Lutz. I asked him if he thought the Chinese could take over GM’s operations. He responded that it was a question of when not if.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by Rumpole View Post
    I believe it would be impossible to have a site like GMI that discusses GM’s global product offerings manufactured by companies partially owned by GM and Chinese government entities without considering these issues. These issues affect GM’s product decisions as well as the decision where certain vehicles are manufactured. Remember in a 50/50 JV like SGM, SAIC has veto power. So when those on the list wonder why GM does or doesn’t do something trust me a Steve Saleen situation is in the back or maybe front of the mind of GM executives. I remember flying back to the US from China with Bob Lutz. I asked him if he thought the Chinese could take over GM’s operations. He responded that it was a question of when not if.
    I am surprised that the US government has not forced this JV issue. They are the only ones with the Muscle to do it.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by Rumpole View Post
    I believe it would be impossible to have a site like GMI that discusses GM’s global product offerings manufactured by companies partially owned by GM and Chinese government entities without considering these issues. These issues affect GM’s product decisions as well as the decision where certain vehicles are manufactured. Remember in a 50/50 JV like SGM, SAIC has veto power. So when those on the list wonder why GM does or doesn’t do something trust me a Steve Saleen situation is in the back or maybe front of the mind of GM executives. I remember flying back to the US from China with Bob Lutz. I asked him if he thought the Chinese could take over GM’s operations. He responded that it was a question of when not if.
    At this rate, I would prefer India.

    On the other hand with the current floodings and various rumors of a possible collapse of the Three Gorges Dam...China could be more of a "paper dragon"....

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by BlackGTP View Post
    Wow. Unbelievable. This should be making national headlines.

    This article has political aspects but is automotive related. I am very much unclear as to what crosses the line for the GMI staff. So if the GMI staff doesn't like this, please just delete the thread and send me an message as to why this is not acceptable vs. banning me with no explanation.
    They thought that the best way to deal with the devil is to know him. Just do on US soil, not on China's

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by Greg Burr View Post
    They thought that the best way to deal with the devil is to know him. Just do on US soil, not on China's
    The Devil indeed. Xi, does see himself as some sort of second coming of Mao.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by Rumpole View Post
    I believe it would be impossible to have a site like GMI that discusses GM’s global product offerings manufactured by companies partially owned by GM and Chinese government entities without considering these issues. These issues affect GM’s product decisions as well as the decision where certain vehicles are manufactured. Remember in a 50/50 JV like SGM, SAIC has veto power. So when those on the list wonder why GM does or doesn’t do something trust me a Steve Saleen situation is in the back or maybe front of the mind of GM executives. I remember flying back to the US from China with Bob Lutz. I asked him if he thought the Chinese could take over GM’s operations. He responded that it was a question of when not if.
    Fershur. It's how they roll. A leopard does not change his spots.

    Quote Originally Posted by mbukukanyau View Post
    The Devil indeed. Xi, does see himself as some sort of second coming of Mao.
    He's doing his best. He and his predecessors had 28 years of able assistance. Why would they not think the US is a bunch of patsies?
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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by Neanderthal View Post
    Fershur. It's how they roll. A leopard does not change his spots.



    He's doing his best. He and his predecessors had 28 years of able assistance. Why would they not think the US is a bunch of patsies?
    Unfortunately, they might have been set up . It would seem now the Anglo powers are coming around to seeing the enemy.
    When India, Australia and the Philippines start coordinating Naval activity, you know the jig is up. They are. And their big boys are very interested in joining the party.

    If the Commies make one bad move, their Navy is going to iron bottom sound and quick.

    But, what will disappear first is access to Global markets.


    We need to shut them out of our colleges

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    This is a tricky time for all but Steve Salees's experience should serve warning to the wary
    that the Chinese on their own turf are 99% unbeatable and will take your IP if you're not careful.
    The Chinese saw another greedy dumb businessman and set conditions to take advantage of
    his inability to travel and maintain control of his project. Dealing with China means you need clout
    and trademark everything. Even then, I doubt they respect other companies' IP ( Korea just as bad).

    If I were Ford or GM, I'd be looking at getting out of China fairly quickly as its now a house of cards
    ready to fall over in the next headwind. There's nothing to be gained from China's 50/50 JV crap, it's
    just extortion for providing cheap Labor and access to markets without incurring import tax?
    Last edited by jpd80; 08-08-2020 at 09:25 PM.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Damn this tropical storm Isaias and the power company - Eversource. What a botched response - I'm on day 6 of no power (fortunately I have a generator). The internet comes and goes.

    I can't wait to see companies pull production out of China. They better start, I hope this isn't just rhetoric and companies end up staying. The Chinese are nothing but a gang of thieves and drug dealers (they supply a huge chunk of the illegal drugs).

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Similar thing happened to Jeep early in the Chinese commu-capitalism experiment: they put together a deal to make Cherokees in China and had to fight to keep control of their design, which the Chinese explicitly wanted them to give up for free. They got that worked out, build their factory, and lo and behold, someone else started selling a near exact clone of the Cherokee. As I recall, Jeep pulled out as soon as they could after that.

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    Re: China wields coronavirus to nationalize American-owned carmaker

    Quote Originally Posted by BlackGTP View Post
    Damn this tropical storm Isaias and the power company - Eversource. What a botched response - I'm on day 6 of no power (fortunately I have a generator). The internet comes and goes.

    I can't wait to see companies pull production out of China. They better start, I hope this isn't just rhetoric and companies end up staying. The Chinese are nothing but a gang of thieves and drug dealers (they supply a huge chunk of the illegal drugs).
    You have a Generac? I keep seeing their advertising. I want a Generac.

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