The Curtain Falls on Saleen's Car-Making Farce: Lessons for Attracting Local Investment and Industrial Development(AI Translation)
Listen to the full version
- Former officials from Jiangsu Province, China, were sentenced for crimes related to the failure of Saleen Automotive, causing a loss of over 5.6 billion yuan in state assets.
- Saleen Automotive, once a controversial car project involving American niche supercar brand Saleen, has ceased operations with its factory in Nantong and cultural center being auctioned off unsuccessfully.
- The case reflects broader issues in China's automotive industry, where local governments' aggressive investment in car projects often leads to financial burdens and failures, as seen with other companies like Weimar and HiPhi.
文｜财新周刊 安丽敏
By An Limin, Caixin Weekly
江苏赛麟汽车科技有限公司（下称“赛麟汽车”）已经淡出公众视野很长时间。2023年12月28日，江苏省一名前官员的判决信息曝光，又将这家企业推至聚光灯下。
Saleen Automotive Technology Co., Ltd. of Jiangsu (hereinafter referred to as "Saleen Automotive") has been out of the public eye for a considerable time. On December 28, 2023, the sentencing information of a former official from Jiangsu Province was exposed, thrusting this company back into the spotlight.
当天，江苏省常州中院对如皋市前主要领导陈晓东公开宣判。法院一审认定他犯有滥用职权罪、受贿罪、洗钱罪，共判处有期徒刑14年半，并处罚金130万元。法院认为，陈晓东在担任江苏省如皋市委副书记、市长、市委书记期间滥用职权，造成国有资产损失56亿余元。
On that day, the Intermediate People's Court of Changzhou in Jiangsu Province publicly sentenced Chen Xiaodong, the former senior leader of Rugao City. The court found him guilty of abuse of power, bribery, and money laundering in the first instance, sentencing him to a total of 14 and a half years in prison and imposing a fine of 1.3 million yuan. The court ruled that Chen Xiaodong abused his authority during his tenure as Deputy Secretary of the CPC Rugao Municipal Committee, Mayor, and Secretary of the CPC Rugao Municipal Committee, causing losses of more than 5.6 billion yuan to state-owned assets.
在陈晓东之前，如皋市原市委常委、如皋经济技术开发区党工委副书记马金华也因滥用职权罪和受贿罪被判处有期徒刑14年半，并处罚金100万元。
Prior to Chen Xiaodong, Ma Jinhua, former member of the Standing Committee of the Rugao Municipal Committee and Deputy Secretary of the Party Working Committee of Rugao Economic and Technological Development Zone, was sentenced to 14 and a half years in prison for abuse of power and bribery. He was also fined 1 million yuan.
Sign in with Google
Sign in with Facebook
Sign in with 财新