New Jersey dealer Tim Ciasulli has invested $2 million in entrepreneur Malcolm Bricklin's plan to sell Chinese cars in the United States. Bricklin's company, Visionary Vehicles LLC, is the U.S. distributor for Chery Automobile Co. U.S. sales of Chery cars are expected to begin in 2007.
Ciasulli's investment is in an escrow account established by Visionary. When Bricklin signs 50 dealers, the money "can be utilized by the company," Ciasulli says.
Ciasulli, CEO of Planet Honda of Union, N.J., says he will spend another $2 million to renovate a former indoor sports complex in northern New Jersey to be used as the Chery dealership.
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