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Visionary Vehicles sues Chery on risk of importing Chinese cars in U S.
NEW YORK Entrepreneur Malcolm Bricklin of Visionary Vehicles has filed a lawsuit accusing Chery Automobile of China of defrauding the company after the two formed a joint venture to import Chinese cars to the U S.
In Sunday filed a complaint with the US District Court in Detroit, Visionary Vehicles said it lost more than 26 million in investments and billions of dollars of potential future profits due to deceptive and corrupt practices by Chery in of the joint venture.
We have the people, we have the money, our ideas, we have brought them everything we were supposed to, and they took everything, and it's a shame, Bricklin said today at a news conference in new York.
A phone message left today a Chery representative in New York was not immediately returned.
Bricklin formed the venture with Chery in 2004 to import its cars to the U S in 2007, but the deal failed.
When the company was canceled in November 2006, a Visionary Vehicles spokeswoman said the two parties disagreed on the extent to which Chery automobiles would be modified.
however, alleges that Chery used the publicity of the joint venture to cut New York-based Visionary Vehicles on any project to import cars to the United States sought to place partnerships with other US automakers, including Chrysler LLC and Longmont, trial, Colo - based Quantum LLC, the lawsuit said.
A Chrysler spokesman declined to comment on the trial A phone message left at a phone number listed Quantum was not immediately returned this morning.
The trial, which is seeking unspecified monetary damages, also accuses Chery of using Visionary Vehicles to obtain plans and information on the US auto market He also says Chery repeatedly stole plans for automotive vehicle manufacturers US, saying its operator mode has been plundering in series Western technology.
Throughout its short history, Chery and its management and others working in concert with it have systematically broken contractual obligations, stolen plans for vehicles, cars made by Western companies without paying for their rights and made business without any intention to run, the lawsuit says.
As the partnership failed, Visionary Vehicles had already sunk $ 26 million into the joint venture and lose more than 14 billion potential benefits, according to the complaint.
At the end of the day, Chery dancing with a new partner and we have lots of bills and no profits, said Fred Schwartz, a lawyer representing the company Bricklin.
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