An exiled Chinese automobile tycoon plans to make clean-tech cars in Alabama, according to a Reuters report that cited unnamed sources.
Yang Rong is the former chairman of Brilliance China Automotive Holdings Ltd (CBAMF.PK) and was ranked by Forbes as the third richest man in China in 2001. He fled the country after being accused of economic crimes.
Reuters said that former U.S. Vice President Al Gore has given support to Rong’s plan, which will be announced later this month.
No details were given concerning the type of clean-tech that will be employed, however the report notes that a former GM (NYSE: GM) executive has been hired to run operations and that the company intends to pursue funding from the U.S. Department of Energy.
Read the Reuters report at the link below.
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