Carmaker [Chery] denies spy charge

July 27, 2010 by Tycho de Feijter

Chery is in trouble and it loox like US prosecutors will go to the bottom of it. Read on for excellent background article about the case from GlobalTimes, a Chinese government owned magazine:

“China’s largest [independent, domestic] automaker, Chery International, denied charges Monday by US prosecutors who are accusing it of stealing millions of dollars worth of clean energy technology from former engineers of US auto giant General Motors.

The intensified wrangling comes as the US auto industry attempts to recover from poor fiscal performances and shrinking sales.

And analysts are warning Chinese automakers to take intellectual property rights more seriously when competing with their foreign counterparts, as the Chinese firms are vying for more market share worldwide after the country’s car market was crowned the world’s largest last year, surpassing that of the United States.

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