Yang Rong to realize auto-making dreams in Shenyang

Shanghai, November 19 (Gasgoo.com) Automobile parts and environment products maker Far East Golden Resources Group (FERG), which is taken charge of by Yang Rong said its subsidiary Hybrid Kinetic Motors Corporation (HKMC) would invest 10 billion yuan ($1.47 billion) in Shenyang, capital of northeast China’s Liaoning province to produce hybrid vehicle power systems.

According to the agreement that has been signed between HKMC and Shenyang government, the 10 billion yuan will be invested to establish hybrid vehicle power systems with a total capacity of 1 million units, including engines, gear-boxes and electromotors.

Reportedly, the Shenyang city government will provide no less than 2 square kilometers of land for the infrastructure.
 
Shenyang has been long committed itself to be the “city of auto worldwide” and has already become the headquarters of Brilliance Auto. Yang Rong’s Shenyang landing has aroused some chemistry between the former CEO of Brilliance and the current executive Qi Yumin.

Yang Rong, the founder of Brilliance, was forced out and later fled China after being charged with unspecified economic crimes due to his dispute with the local Liaoning provincial government over the ownership of the company.

Yang's exit left Brilliance in the tight control of the Liaoning province. Since then, the company has seen another three top executives come and go.