Malcolm Bricklin, the entrepreneur who owns Visionary Vehicles, a company set up to import and distribute Chinese-built Chery brand cars in the US, has delayed the target date for the cars to go on sale for the third time, according to Reuters.
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Speaking at a Reuters conference he said that the first cars will arrive from China at the end of 2008 or beginning of 2009. Initial plans called for sales to start in January 2007. Reuters said that Bricklin then moved that date to the summer of 2007 and then to the end of the year.
So far 50 dealers – the eventual nationwide target is 250 – have been appointed. Dealers have to invest US$2m to sign up.
Bricklin said that Visionary Vehicles is forming a joint venture with Chery Automobile and Visionary will have a 40% stake.
He said he expects the cars to compete in the luxury segment with Lexus, BMW and Mercedes-Benz, and that the plan is to launch one new model every three months.
