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Article: Chinese tycoon plots comeback as car maker: ; New company will dive into increasingly competitive market of hybrid vehicles
- Article from:
- Charleston Daily Mail
- Article date:
- October 5, 2009
- Author:
CopyrightCopyright 2009 Charleston Daily Mail. Provided by ProQuest LLC. (Hide copyright information)
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HONG KONG Yang Rong was once celebrated as a pioneering
automobile entrepreneur who founded the first Chinese company to be
listed on Wall Street. Then, seven years ago, he fled to the U.S.
fearing arrest for alleged economic crimes. Now, Yang is plotting a
comeback as a hybrid car maker in the U.S. a venture requiring
billions of dollars that could face daunting odds amid a weak
economy and against competitors such as Toyota and Honda that have
already invested millions in green technology. His Los Angeles-
based start-up, Hybrid Kinetic Motors, plans to offer a full-range
of hybrid vehicles that run on natural gas, gasoline and
electricity, with production to start by 2013. Yang ...