Yang Rong (businessman)

A year after the magazine Forbes reported that he was China's third-richest businessman in 2001, Yang fled to the United States following a dispute with a member of the Chinese government.

[7] After leaving China in July 2002, Yang began a start-up car company in the United States, Hybrid Kinetic Motors Corporation (SEHK: 1188).

[15][3][16] While its desire to manufacture in the US did not come to fruition, in the early 2010s the company expressed interest in several Mainland China production base sites.

Yeung cut ties with Wang, and a lawsuit between the two was filed in Mississippi in early 2009 with each accusing the other of dubious business practices.

"[19] U.S. federal chief judge Michael P. Mills wrote in an opinion on the dispute that Wang had taken actions of "dubious legality" in issuing stock in connection with Hybrid Kinetic Motors.

[23] The judge noted that the company website described Wang as "a graduate of Duke Law School" who had formerly served as a "partner and the head of Asia practice for a prominent New York law firm" and who had, prior to that, held a similar position with a "prestigious Washington law firm," but the judge went on to comment that "While prominence and prestige are laudable attributes in today’s society, the older virtues of common honesty and integrity sometimes still carry the day.

"[24] The lawsuit was settled out of court with $1.5 million being paid to Yang, who also retained the name "Hybrid Kinetic," as Wang began anew using the "GreenTech" name.

[25] As of September 2009 the possibility of producing Hybrid Kinetic vehicles at an undeveloped site near Bay Minette in Baldwin County, Alabama, was discussed.

[3][1] A collaboration agreement was entered into by Hybrid Kinetic totaling $68 million with the Italian Pininfarina design firm for 46 months.