But the city government financing Chery is rather poor, unlike Shanghai city government financing SAIC. $200 million seems like a lot of money for Chery, going by loan announcement and requiring Malcolm Bricklin to come up with that amount for the US launch.You do realize that Chery and many other automakers (with Geely as one of the rare exceptions, a completely private firm with no ties to the government) are state industries, do you?
I would like to know how much cash Wuhu city government has to fund Chery. Certainly not $20 billion that Hyundai spent on Hyundai Motors and $25 billion that Samsung was willing to commit to its failed Samsung Motors. Remember, these companies are industrial giants with an annual sales exceeding $150 billion, only companies of such scale can afford to get into automotive business and become a serious global player.China's government supports its automakers and the government isn't exactly poor
That's Chinese communist party's reserve, not Wuhu city government's reserve.in fact, it holds the world's greatest foreign reserves.
If Chery was flush with cash, then they would actually have an army of 10,000 engineers(typical of companies in global top 5) housed in a giant R&D complex the size of Chery's factory complete with a 5 mile test track developing 10 cars simultanously. I don't think I even saw a test track at Chery headquarter from videos, just a factory and no R&D.You're way off on that one.