Chinese Auto Tycoon Needs Money

Bay Minette China Benjamin Yeung aka Yang Rong wants to build a hybrid auto plant in Baldwin County. He found the location. Now he just needs the money!

by Tiffany Craig

Published: Wed, September 23, 2009 - 5:14 pm CST Last Updated: Thu, September 24, 2009 - 12:45 pm CST

BAY MINETTE, Alabama -

After hearing that a new auto plant has its sights set on Bay Minette, you wanted to know more. Governor Bob Riley is expected to make it official on Thursday afternoon and release more information about the plan. In the meantime, we have information about the company called Hybrid Kinetic Automotive (Motors) that you might find interesting. Hybrid Kinetic is the brain-child of Benjamin Yeung. He also goes by the name Yang Rong. In 2001, Forbes magazine named him the 3rd richest man in China. He was chairman of a successful car company named Brilliance and made millions. According to published reports in 2002, he was charged with economic crimes after a fight over a new location for a factory. Yeung fled China and ended up in California. His next idea was to team up with another Chinese auto tycoon and build hybrid-electric cars in the American south. The Chamber of Commerce in Tunica, Mississippi confirms that Yeung and his partner planned to set up the plant there. However, the men had a falling out and went their separate ways. Yeung decided to move his business next door to Alabama. Tunica officials are still hopeful that Yeung's former partner Charles Wang will build his facility in Mississippi and the two projects would end up competing in the hybrid market. News 5 has confirmed that Yeung wants to build his plant on 3-thousand acres in the northeast Bay Minette area. Hybrid Kinetic is described as an ambitious project, requiring thousands of workers! The only thing standing in the way is money. Finding funding for the project is the next hurdle to jump. We're told that Yeung is living in exile from his native China and reportedly can't get the money he left behind.

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BamaBob Says:

Sat, Sep 26, 2009 at 7:30 pm

http://www.youtube.com/watch?v=rfHj0JPx3Mk&feature=related

sheltiedad Says:

Sat, Sep 26, 2009 at 5:20 pm

There’s something rotten in Denmark…

400 hundred horsepower from an engine smaller than the engine in a Chevette?

You’d probably be better off investing in BamaBob’s ShamWows.

bobcatgoer Says:

Sat, Sep 26, 2009 at 3:41 pm

Beside the car picture this guy used in the Alabama conference was copied from another car company headed by Terry McAuliffe, the so-called artistic rendering of the site plan does not make any engineering sense. Maybe it has some other purposes, as others pointed out, it really looks like Hitler’s symbo. The CEO of this company C.T. Wang said that all of their cars will use a 1.5 liter natural gas engine that will deliver 400 horse powers and 45 miles per gallon. I talked to a friend who was an engineer in detroit and was told that 400 horse power from a 1.5 liter engine will need 100% heat efficiency. The best engine in world now can only deliver about 50% heat efficiency and it costs an arm and a leg. And, nobody measures MPG when the car burns CNG. In any event, a 45 mile per gallon doesn’t match the 100% heat efficiency at all. Smell it, guys. This company doesn’t have money (have to sell visa to get money), doesn’t have technology (have to buy it from others in an conference that never happened) , doesn’t have a single prototype (not even a picture of a proposed car other than the one copied from another copany’s website), doesn’t have someone who understands automotive technology to make a more plausible statement about “their cutting edge invention” (Mr. CEO, please do your homework before you treats everyone in Alabama as a fool).

sheltiedad Says:

Fri, Sep 25, 2009 at 10:57 pm

I’ll buy 2 shamwows if you could cash my check for $6000 and send the difference to the Obama Presdidential Palace in Nigeria

BamaBob Says:

Fri, Sep 25, 2009 at 7:13 pm

I just got an email from Ru U Off. He says this guy is cool. Except his money is tied up in a bank in Timbuktu. If all of you would only send money directly to me, Rippa U. Auff, Esq. My wig wearing magistrate will gladly take care of the details.

If my plea causes you any concern what so ever, could I sell you a ShamWow for $19.95 + s&h?

funny1688 Says:

Fri, Sep 25, 2009 at 6:55 pm

Something is very confusing. In the following Chinese news that he just held a big news conference in the US for signing an agreement with a US company for using the hybrid tech, and all the major auto makers presented at the conference. Confusing 1) He even doesn’t have a tech in hand yet, how the hell he could make that cars in 2012? 2) There is no such conference reported in the US even in the town that he claimed has signed agreement for location.
Check the Chinese news your self.
据悉，前不久，仰融在美国与该项技术的供应商，正式签署了联合开发协议，包括共轨直喷、两级增压、稀薄燃烧技术、中度混合动力技术等等。“到目前为止，我们获知的技术信息是没有一个汽车厂比得上我们。我们目前的技术指标，不是跟国际接轨，而是有望领跑汽车潮流。”仰融自信地表示。

　　几家全球知名的汽车公司以合作伙伴的身份参加了该发布会。这些公司将作为仰融造车的重要供应商，也将在当地设置生产基地，为其提供配套。

gomerpylevw Says:

Thu, Sep 24, 2009 at 10:41 am

AND:

http://www.opensecrets.org/lobby/clientsum.php?lname=Hybrid+Kinetic+Automotive&year=2008

gomerpylevw Says:

Thu, Sep 24, 2009 at 10:39 am

Let me start by saying, I’m all for alternative-energy for transportation. No, I’m not a green-fanatic or a environmental nut, BUT, I am worried that our state is spending money on something that will ultimately end in lawsuit:

http://green.autoblog.com/2009/07/31/hybrid-kinetic-automotive-lawsuit-settled-somewhat-will-unvei/