Some of us were surprised that at this year’s Detroit auto show the car that got the most attention from the mainstream media was a Chinese compact from a company called Geely, rather than showstoppers like the Chevy Camaro and Dodge Challenger concepts.
Nope, everyone from CNN to NBC’s “Today” show wanted to point to Geely’s one-car booth and spell the gloom and doom of the American auto industry at the hands of a $10,000 Chinese car. It turns out Geely has completely given up on plans to convert its budget-priced cars, including the one shown in Detroit, to meet U.S. safety and emissions standards.
Instead, the company is exploring the possibility of building a $400 million plant to build a model aimed specifically at U.S. and European markets. While investors for that plant are supposedly “lining up,” we’ll wait on predicting the next wave of doom and gloom.
Of course, this story reported by Automotive News probably won’t wind up on your local news like the Detroit auto show coverage, but we figured we’d point it out just the same
[Geely Drops Budget-Car Plan, Automotive News – subscription required]