George Soros' Chinese Chery Sparks Protests

George Soros who bankrolled Moveon.org, is considering pouring hundreds of millions into a Chinese state automaker with plans to begin dumping cheap exports on the U.S. market next year, WND has learned.

The "Chery" is a knockoff of the South Korean Spark, sold in the U.S. in partnership with General Motors.

GM filed a lawsuit against Chery Automobile Co. for piracy of the car developed by its South Korean affiliate Daewoo and Chery will have to change the name of its exports to the U.S. as a result.

The lawsuit, launched in the name of GM Daewoo Auto & Technology Co. Ltd, contends Chery's QQ copied the design of Daewoo's Matiz, while Chery claims it developed the QQ on its own.

GM's investigation results showed the two vehicles "shared remarkably identical body structure, exterior design, interior design and key components."

The Chery QQ sells in China for $3,600. Chery sold about 50,000 of these last year in China and is planning to begin exporting cars to the end of 2007. Some auto industry analysts suggest the low price on the Chery is the partly the result of the "borrowed" technology and design. The list price on the Chery is expected to be around $20,000 in the U.S.




Until now, Chery has focused on exports to 10 other countries, including Iran, Iraq, Bangladesh, Cuba, Syria and Malaysia. But now, with the help of at least one prominent mega-investor – Soros – China is making big plans for a major push into the North American market.