A proposed $6.5 billion auto factory in Mississippi is the brainchild of a group of former executives from Brilliance China Automotive Holdings Ltd. and other Chinese auto companies. Hybrid Kinetic Automotive Holdings Ltd. plans to build an auto plant that would produce 1 million cars and trucks a year by 2015.
The original Hybrid Kinetic management team included:
-- Yang Rong, also known as Benjamin Yeung: Hybrid Kinetic chairman and founder; former CEO of Brilliance China, 1992-2002. In 2001, Forbes ranked Yang the third-wealthiest entrepreneur in China.
-- Xiaolin Wang: Hybrid Kinetic CEO; an attorney with a law degree from Duke University who represented Yang at Brilliance; he also was CEO of a Hong Kong-traded fertilizer company known as Far East Golden Resources Group Ltd., controlled by Yang.
Xiaolin Wang was sued by Yang and now runs a separate corporation called GreenTree Automotive, which plans to launch a competing plant. He was replaced as Hybrid Kinetic CEO by Chuantao, or C.T., Wang.
-- Yucheng Lei: Founder of TJ Innova Engineering & Technology Co. Ltd., a Chinese vehicle engineering company that employs more than 1,500 engineers. TJ Innova is now owned by Hybrid Kinetic.
-- Xi Deng: Hybrid Kinetic executive vice president; a former finance executive with MCI WorldCom, Fannie Mae and the Agricultural Bank of China. He received his MBA from the University of Miami. Deng also was sued by Yang.
-- Yi Tang: A former Wall Street capital manager who led a team at Fannie Mae responsible for a $110 billion securities portfolio. He previously was involved in the subprime mortgage market. Tang also was sued by Yang.