Autoblog http://www.autoblog.com Autoblog http://www.blogsmithmedia.com/www.autoblog.com/media/feedlogo.gif Autoblog http://www.autoblog.com en-us Copyright 2009 Weblogs, Inc. The contents of this feed are available for non-commercial use only. Blogsmith http://www.blogsmith.com/<![CDATA[Malcolm Bricklin filing a multi-billion RICO lawsuit against Chery Motors]]>http://www.autoblog.com/2008/07/21/malcolm-bricklin-filing-a-multi-billion-rico-lawsuit-against-che/http://www.autoblog.com/2008/07/21/malcolm-bricklin-filing-a-multi-billion-rico-lawsuit-against-che/http://www.autoblog.com/2008/07/21/malcolm-bricklin-filing-a-multi-billion-rico-lawsuit-against-che/#commentsFiled under: , ,

Back in 2004 serial automotive entrepreneur Malcolm Bricklin announced plans to collaborate with "rogue" Chinese automaker Chery Motors to bring new cars to the US market. Chery is referred to as "rogue" because the company never actually got permission from the Chinese government to get into the car business. Needless to say, the deal eventually fell apart when Chery decided to hook up first with Israel Corp and Quantum LLC for a different joint venture which has also yet to come to fruition.

Bricklin's company, Visionary Vehicles, which is now know as V Cars LLC, has now filed a lawsuit against Chery, Israel Corp, and Quantum LLC, et al. The suit is being filed under RICO statutes, typically used to go after mobsters, and V Cars is hoping to pursue Chery for the potential profits the company feels it could have made over the course of the deal. How much? $14 billion.

V Cars claims they provided Chery with business plans and ideas (along with $26 million in up front investments) which they then used for their own business after abandoning the deal. During a conference call today, Bricklin explained that he wants to show Chery and other Chinese companies that if they are going to do business with western companies they need to deal ethically and follow the rules. V Cars is also seeking injunctions to prevent Chery from selling any vehicles based on these plans in North America. The complete text of the suit that has been filed in Federal District Court in Detroit can be read here (Warning: PDF download).

[Source: V Cars]

Malcolm Bricklin filing a multi-billion RICO lawsuit against Chery Motors originally appeared on Autoblog on Mon, 21 Jul 2008 13:28:00 EST. Please see our terms for use of feeds.

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Click above for a gallery of screen shots.

BMW is gearing up for the online unveiling of its latest design study, the GINA Light Visionary Model. Unlike the BMW M1 Homage concept, this one's actually a runner, as evidenced by the video posted below the fold, showing the concept being driven from the studio into a car carrier then unloaded at the BMW Museum in Munich.

No details about the roadster are available from the BMW-web.tv site, but judging by the open cockpit and massive width, we're expecting something akin the M1, sans roof and sporting many of the design cues found on the homage. Check back for more when the BMW GINA Light Visionary Concept is unveiled on June 10th.

Gallery: BMW GINA Light Visionary Concept teaser

Continue reading VIDEO: BMW GINA Light Visionary Concept teased ahead of June 10th unveiling

VIDEO: BMW GINA Light Visionary Concept teased ahead of June 10th unveiling originally appeared on Autoblog on Thu, 05 Jun 2008 15:27:00 EST. Please see our terms for use of feeds.

Read | Permalink | Email this | Comments]]>bmwBMW GINA Light Visionary ConceptBmwGinaLightVisionaryConceptconceptginalightmunichmuseumvisionaryThu, 05 Jun 2008 15:27:00 EST