Saleen Automotive, Inc., commonly known as Saleen (/səˈliːn/), is an American manufacturer of specialty high-performance sports cars and high-performance automotive parts.Saleen is headquartered in Corona, California, in the United States, and privately held.
Saleen's flagship car was the S7, introduced in 2000.The S7 was wholly built by Saleen, and features a mid-engine design in a high-performance sports car package.It is also currently the only Saleen production car not based on an existing design or chassis.
As of 2025 Saleen manufactured the 302 (Mustang derived); the Sportruck and Sportruck XR (Ford F-150 derived); the BIG OLY (Ford Bronco derived); and the Saleen S1, an original sports car in race and street variants.[1]
In 2017, Saleen and partner Charlie Wang (Xiaolin Wang, in Chinese) formed a partnership with the city of Rugao to form Jiangsu Saleen Automotive Technology, with Wang as its CEO.[2] The objective of the joint venture was to produce and distribute Saleen vehicles in China for the Chinese market.[3]
location city
Corona, California
location country
United States
homepage
https://www.saleen.com
The company's only mass-produced model, the Maimai (赛麟迈迈), with a maximum speed of 100 km/h (62 mph) and a new European driving cycle range of 305 km, was introduced in 2019, but only 27 had sold as of April 2021.
The Chinese government said that Charlie Wang embezzled nearly $1 billion in state funds, and Wang then absconded to the United States.
The Nantong Intermediate People's Court put the company up for auction in May 2022.
History
1980s
The Saleen brand was established in 1983 originally as "Saleen Autosport" by Steve Saleen, a former professional Formula Atlantic race-car driver.[5][6] The first Saleens were produced in 1984 when they built three cars as the first production run – a white hatchback, a bright copper-glow five-speed hatchback,[7] and a black hatchback.
In 1985, Steve Saleen put the first certified supercharger on a production Saleen Mustang.This car was delivered to Nault Ford in Manchester, New Hampshire, and was the first use of a centrifugal supercharger on a late-model Mustang.[8]
In 1986, the Saleen made its entry into the Sport Car Club of America race series with a race-prepared version of the Saleen Mustang.[9] A notable win that year at the 24 Hours of Mosport was the catalyst for Saleen vehicles becoming heavily involved in motorsport throughout the rest of the 1980s.
1990s
In 1990, in response to increased aftermarket parts demand, Saleen established Saleen Performance Parts.[10] In 1994, Saleen debuted the S351, which had a Saleen-built 351 cubic-inch engine.[11] Despite the Mustang GT changing to the modular V8 in 1996, Saleen continued with development of their own EPA-certified 351W engine.[12]
In 1995, Steve Saleen teamed up with comedian Tim Allen and formed the Saleen-Allen "RRR" Speedlab race team.[13] In 1997, Saleen introduced a Saleen Contour concept and an SUV, the Saleen XP8Explorer.In the late 1990s, the company, founded in 1984, was restructured and became "Saleen, Inc."
2000s
In 2000, Saleen introduced its flagship vehicle, the Saleen S7 sports car. The S7 is a mid-engine, high-performance sports car that was initially priced at just under US$400,000. The S7 won four different GT championships in 2001 and has broken records at the prestigious 24 Hours of Le Mans race. The S7 was Saleen's only production car not based on an existing design or chassis.
In 2001, Saleen moved its production facilities to a new 100,000-square-foot facility in Irvine, California.[14]
In 2002, Saleen was awarded the assembly and paint contract for the new Ford sports car, the Ford GT.This effectively made Saleen a tier-1 supplier to the Ford Motor Company.[15] In 2003, Saleen set up a special manufacturing and licensing agreement for distribution of Saleen vehicles in Canada.[16]
In 2004, Saleen expanded its operations and manufacturing to an additional 203,000-square-foot facility in Troy, Michigan.
2010–present
In 2010, 2011 Saleen Mustangs were made in Detroit by Revstone, the company that purchased and legally produced 42 Saleens those years. Steve Saleen was selling Mustangs under the SMS name, as he did not legally own the name Saleen. At the end of 2011, an agreement was reached between Ford, Revstone, and Steve Saleen to let him start producing under the Saleen name again. On June 26, 2013, Saleen became public through a reverse merger.It was listed on the OTC Bulletin Board and is controlled and majority owned by Steve Saleen.[21] Later that year, the Saleen operations, manufacturing, research and development, and paint facilities were announced to be consolidated to a four-acre campus in Southern California.[22]
In 2014, Saleen entered into an agreement to expand vehicle distribution to include China.[23] In August 2014, Saleen unveiled an all-electric performance model, the Foursixteen (a tuned version of the Tesla Model S).[24]
Jiangsu Saleen Automotive Technology
2017–19
In 2017, Saleen and his business partner Charlie Wang (Xiaolin Wang, in Chinese) formed a joint venture with Rugao, China (a city 107 miles northwest of Shanghai in Jiangsu province), creating a company named "Jiangsu Saleen Automotive Technology" (Chinese: 赛麟汽车) in Rugao, with Charlie Wang as Chairman, CEO, and majority owner of the company.[33][2][34][35] Charlie Wang was a lawyer who had worked at Cadwalader, Wickersham & Taft, from which he abruptly resigned, and then was CEO of Hybrid Kinetic Motors before its owner Yang Rong sued him for re-issuing shares of the company under Wang's own control, and subsequently founded and was CEO of GreenTech Automotive, before it went bankrupt.[36]
2017–19
In 2017, Saleen and his business partner Charlie Wang (Xiaolin Wang, in Chinese) formed a joint venture with Rugao, China (a city 107 miles northwest of Shanghai in Jiangsu province), creating a company named "Jiangsu Saleen Automotive Technology" (Chinese: 赛麟汽车) in Rugao, with Charlie Wang as Chairman, CEO, and majority owner of the company.[33][2][34][35] Charlie Wang was a lawyer who had worked at Cadwalader, Wickersham & Taft, from which he abruptly resigned, and then was CEO of Hybrid Kinetic Motors before its owner Yang Rong sued him for re-issuing shares of the company under Wang's own control, and subsequently founded and was CEO of GreenTech Automotive, before it went bankrupt.[36] Only Nantong Jiahe, a state-owned shareholder, invested in Saleen Automobile–it invested CNY3.4 billion (US$481.3 million) and owned 34% of the company; the other four shareholders of the company were shell companies controlled by Wang.
2020–present
In February 2020, the company's new Rugao factory was closed.[37]
In April 2020, the former senior legal manager at Saleen, Qiao Yudong, said that company chairman Charles Wang had made false claims about technology investment, and had embezzled millions of dollars from the state by inflating the costs of so-called "car-making technologies."[37][4] Qiao said that Wang inflated the costs of two car-making technologies valued at US$500,000 and US$20 million, to US$826 million and US$1.1 billion, and then traded them for US$283.2 million in cash and also transferred them into equity ownership, reducing the ownership interests of state-owned investors.[37] The one-third investor Nantong Jiahe conducted a financial audit and suspected Wang of providing false documents, and exploiting his position as CEO to steal large amounts of money, the administrative committee of the Jiangsu Rugao Economic and Technological Development Zone said.[37] The state investor then reported the matter to the police, which accepted the complaint.
Products
Current models
Legacy models
Special vehicles
These are special vehicles made by Saleen, that were either nonproduction models, concept vehicles, or nonserialized versions.
Saleen Performance Parts
The aftermarket parts department of the company markets car parts and accessories such as custom wheels, exhaust systems, brakes, and other high-performance parts.
Superchargers
Series I – This was the first supercharger system created by Saleen. It was engineered with an EatonRoots-type supercharger in 1998.[55]
Series II – Launched in 2001, the Series II supercharger was a newer generation Eaton M90 Roots-type.[56]
Series III – This was a larger version of the Eaton supercharger. Going from 90 ci of displacement to 112 ci.
Series IV – The Series IV switched from a Roots-type supercharger to a twin-screw-type. This version had 1.6 L of displacement.
Series V – This marked the first forced-induction system developed entirely in-house by Saleen and designed around Lysholm-sourced compressor screws with 2.3 L of displacement.[57]
Series VI – This was very similar to the Series V supercharger with added boost pressure producing more horsepower. This supercharger system was available in versions for the 2005–2009 Ford Mustang, the 2004–2008 Ford F-150 5.4 L truck, Ford Expedition, Lincoln Mark LT, and Lincoln Navigator.
Saleen Shakercharger – A ram-air intake system for the Ford Mustang, it incorporated the Saleen Series VI supercharger with a functional hood scoop system borrowing its appearance from the S302PJ. This product was the result of design collaboration among Saleen's engineering interns in 2007 and 2008.
iPod adapter – a factory-installed option, it was available across all of Saleen's products line that provides for an integrated iPod connection to the radio head unit. Saleen also offered this option as an aftermarket-installed product through their Speedlabs division.
2005–2009 Mustang HID headlamps – OEM, DOT approved bi-xenon headlamps offered by Saleen that fit 2005–2009 Mustangs. As of early 2007, these were the only OEM-grade, street-legal HID headlamps available for the Ford Mustang.
Saleen Mustang Scenic Roof[58] – Available across Saleen's Mustang-based products, this comprises a glass full-roof panel that replaces the traditional Mustang coupe roof in lieu of a sunroof option. The scenic roof was manufactured from tempered laminate glass and fully certified according to U.S. NHTSA standards.
Frost Touch Scenic Roof – This is a version of the scenic roof that contains Smart glass, which has the ability to change from clear to opaque by flipping a switch.
Watt's Link – developed in 2007, Saleen designed a version of the popular Watt's link for 2005–2009 Ford Mustangs.
Colorlab Automotive Paints
During the development of the Saleen SR in 1995, Saleen formed a strategic partnership with BASF that resulted in the development of unique paint color formulations coupled with advertising centered around Saleen products.During this time, the Saleen paint color "Mystic" was formulated to give the color a chameleon-like effect.[59] In 2014, Saleen signed an agreement that made BASF the exclusive paint supplier for Saleen.[60]
Motorsport
Saleen's birth year of 1984 also marked the first year that a Saleen Mustang was entered into a race, when owner Steve Saleen introduced the first streetcar, the Saleen Mustang, and raced it at Sears Point Raceway, California.
In 1986, Saleen entered the Sports Car Club of America (SCCA) Endurance Series with a race-prepared version of the Saleen Mustang, winning the grueling 24 Hours of Mosport, Canada, with a sponsorship from General Tire.
An SCCA Drivers' Championship went to Saleen in 1987. The Saleen three-car team with drivers Steve Saleen, Parnelli Jones, and George Follmer also captured the Team, Manufacturer, and Tire championships, with sponsorship from General Tire. Saleen entered the SCCA Endurance Series with an all-female driving team including Desire Wilson and Lisa Cacares, who obtained the team's first victory of the season at Sears Point, California. Saleen Autosport also entered a General Tire-backed, Ford Ranger-based, Saleen Sportruck in the SCCA Race Truck Challenge, where they captured two wins.
In 1988, the Saleen race team finished first, second, and third at 24 Hours of Mosport for the third consecutive win and gave Ford its first 1-2-3 finish since LeMans in the late 1960s.
The year 1989 was busy for the Saleen race team. They entered the PPG Indy Car World Series with a team backed by Montgomery Ward. Saleen Mustangs and Sportrucks also continued their winning campaigns in SCCA Competition with General Tire sponsorship.
In 1990, Saleen entered the SCCA Trans-Am series with a Saleen Mustang backed by General Tire.
Adding to their wins in 1991, Saleen won the SCCA Race Truck championship with five victories in six races, which moved Saleen into a tie for the most victories in the series (49) and the Manufacturers' Championship. Owner and driver Steve Saleen campaigned the Trans-Am series with Saleen Mustang with sponsorship from Champion Batteries.
Saleen returned to SCCA Endurance competition in 1993 with a supercharged Saleen in the World Challenge Series.
In 1995, Saleen formed the Saleen/Allen "RRR" Speedlab with Tim Allen. The team of Steve Saleen, Tim Allen, and Bob Bondurant set new track records and won the final race of the SCCA World Challenge series. For 1996, The Saleen/Allen "RRR" Speedlab, with teammates Steve Saleen and Tim Allen won the SCCA Manufacturers’ Championship with the SR Widebody Saleen Mustang. Saleen also won at Watkins Glen International Raceway. In 1997, Saleen/Allen "RRR" Speedlab competed at 24 Hours of Le Mans for the first time, marking the Mustang's first return in over 30 years. Saleen also clinched the SCCA Manufacturers’ Championship title for the third time. 1998 brought more wins for the Saleen/Allen "RRR" Speedlab. The team won both the SCCA Manufacturers' and Drivers' Championship titles. ome 1999, an ex-LeMans Saleen SR won the Spanish FIA GT championship.
In 2000, Saleen competed in the inaugural Grand American Road Racing season, Saleen captured the Drivers' Championship and clinched the Manufacturers' and Team Championships in the season finale at Watkins Glen International Raceway. Saleen customer cars participated in the Speedvision World Challenge—earning a victory at Lime Rock Park. For the 2001 race season, the racing version of the S7, the Saleen S7R, was introduced. The S7R dominated racetracks during its inaugural season. Saleen S7R customer teams won four Drivers’ Championships in four different series (American LeMans, European LeMans, Grand Am, and Spanish GT). Teams driving the S7R achieved 19 wins out of 32 races including the 12 Hours of Sebring. The S7R grabbed 27 poles and set 27 fastest laps, at many tracks, including the prestigious 24 Hours of LeMans. 2002 brought more victories for the S7R. Customer teams continued to operate in four series (American LeMans, Grand Am, British GT, and Spanish GT) winning 18 out of 40 races, three Drivers’ Championships, and several more Team and Manufacturers' Championships. It also won 21 poles and set 23 fastest laps.
In 2004, while Europe watched, the Saleen S7R captured the 1st place win at Imola, Italy, beating home-track favorites Ferrari, Maserati, and Lamborghini, and the debuting Maserati MC-12.
In 2006 the Saleen/Oreca Race Team drove the S7 race version and captured the fastest lap and took the victory at Circuit de Spa-Francorchamps. Saleen also began support of formula race teams in Europe. S7 racecars and spare parts were donated to the effort of trying to win on the European circuit.
Saleen racing results
1980s
1990s
2000s
2010s
1980s
1990s
2000s
2010s
OEM Development
In 2002, Saleen was awarded the partial assembly and paint contract for the 2004–2006 Ford GT.[61]
Beginning with the 2007 model year, the Saleen-designed 450 hp supercharger kit in the F-150-based S331 was offered by Ford as a ship-through Ford-endorsed performance option on Harley Davidson Edition F150s. At the 2007 New York International Auto Show, Chip Foose unveiled a Ford-endorsed limited edition F150, powered by the Saleen-designed powertrain used on the Saleen S331SC.
The new $15 million production facility included a high-tech paint facility and assembly line where Saleen produced the Ford GT under contract from Ford Motor Company.[17] In 2005, global distribution was expanded to include Japan under a new partnership with a Tokyo-based importer.[18]
In 2006, Saleen opened its first own-branded retail store in an outdoor shopping center, in Irvine. The showroom was described as a unique shopping experience for Saleen vehicles, parts, and apparel.[19] In 2007, Saleen began working with Chrysler and supplied all the paint work for the new Dodge Viper.[20] In 2009, Saleen released the SMS570 Dodge Challenger.
By the end of 2014, the company was in significant debt[25] and on the verge of bankruptcy.[26][27] During 2015, in an attempt to raise money, the company offered a Saleen Mustang to investors who put up more than $1 million in capital.[28] The company settled a lawsuit with a journalist critical of their business models.[29]
The Securities and Exchange Commission revoked the registration of Saleen's securities on October 12, 2017.[30] The company reverted to being privately held at this time.In 2022, Electrek reported that Saleen was seeking small investors with a minimum of $500 to invest in the company, and that as of September 2021 Saleen had only $14,000 cash on hand.[31][32]
Jiangsu Saleen Automotive Technology
2017–19
In 2017, Saleen and his business partner Charlie Wang (Xiaolin Wang, in Chinese) formed a joint venture with Rugao, China (a city 107 miles northwest of Shanghai in Jiangsu province), creating a company named "Jiangsu Saleen Automotive Technology" (Chinese: 赛麟汽车) in Rugao, with Charlie Wang as Chairman, CEO, and majority owner of the company.[33][2][34][35] Charlie Wang was a lawyer who had worked at Cadwalader, Wickersham & Taft, from which he abruptly resigned, and then was CEO of Hybrid Kinetic Motors before its owner Yang Rong sued him for re-issuing shares of the company under Wang's own control, and subsequently founded and was CEO of GreenTech Automotive, before it went bankrupt.[36] Only Nantong Jiahe, a state-owned shareholder, invested in Saleen Automobile–it invested CNY3.4 billion (US$481.3 million) and owned 34% of the company; the other four shareholders of the company were shell companies controlled by Wang.[35][37] The company was to produce and distribute Saleen vehicles in China for the Chinese market.[3] CEO Wang said: "We have adopted highly efficient intelligent production, which will make us one of the very few to do so in China," and that the company would "produce all sorts of passenger cars including sedans, SUVs, and crossovers."He said that he wanted to turn the company into a brand rivaling Porsche.[38]
The government provided incentives and the company received capital that reportedly enabled the company to invest 17.8 billion yuan (US$2.5 billion) in a first factory, which Wang said would have the capacity to produce 150,000 cars annually.[39][40] The company then acquired 4 billion yuan, and invested in another factory nearby, which Wang said would produce 50,000 pure electric vehicles and 20,000 super cars annually.[41] CEO Wang said: "Among all EV manufacturers in China, [we are] the most effective. We have rich experience in financial control."
In 2019, the Chinese joint venture presented an updated version of the Saleen S7 (called the S7 Le Mans), at an event which featured actor Jason Statham at the Bird’s Nest stadium in Beijing.In addition to their American sports car, the company also promoted a few Rugao-built vehicles,[42] including a crossover called the "MAC".[43][44][45][46]
The company's only mass-produced model that it sold was the low-end pure electric microcar called the "MaiMai", with a maximum speed of 100 km/h and a new European driving cycle range of 305 km, which was introduced in 2019.[4][45][37][47] However, only 27 had sold as of April 2021, and only 31 as of May 2022.[4] It was priced at CNY 160,000 (US$24,048), and had been built at a cost of CNY 5 billion (US$751 million).
2020–present
In February 2020, the company's new Rugao factory was closed.[37]
In April 2020, the former senior legal manager at Saleen, Qiao Yudong, said that company chairman Charles Wang had made false claims about technology investment, and had embezzled millions of dollars from the state by inflating the costs of so-called "car-making technologies."[37][4] Qiao said that Wang inflated the costs of two car-making technologies valued at US$500,000 and US$20 million, to US$826 million and US$1.1 billion, and then traded them for US$283.2 million in cash and also transferred them into equity ownership, reducing the ownership interests of state-owned investors.[37] The one-third investor Nantong Jiahe conducted a financial audit and suspected Wang of providing false documents, and exploiting his position as CEO to steal large amounts of money, the administrative committee of the Jiangsu Rugao Economic and Technological Development Zone said.[37] The state investor then reported the matter to the police, which accepted the complaint.
2017–19
In 2017, Saleen and his business partner Charlie Wang (Xiaolin Wang, in Chinese) formed a joint venture with Rugao, China (a city 107 miles northwest of Shanghai in Jiangsu province), creating a company named "Jiangsu Saleen Automotive Technology" (Chinese: 赛麟汽车) in Rugao, with Charlie Wang as Chairman, CEO, and majority owner of the company.[33][2][34][35] Charlie Wang was a lawyer who had worked at Cadwalader, Wickersham & Taft, from which he abruptly resigned, and then was CEO of Hybrid Kinetic Motors before its owner Yang Rong sued him for re-issuing shares of the company under Wang's own control, and subsequently founded and was CEO of GreenTech Automotive, before it went bankrupt.[36] Only Nantong Jiahe, a state-owned shareholder, invested in Saleen Automobile–it invested CNY3.4 billion (US$481.3 million) and owned 34% of the company; the other four shareholders of the company were shell companies controlled by Wang.
2020–present
In February 2020, the company's new Rugao factory was closed.[37]
In April 2020, the former senior legal manager at Saleen, Qiao Yudong, said that company chairman Charles Wang had made false claims about technology investment, and had embezzled millions of dollars from the state by inflating the costs of so-called "car-making technologies."[37][4] Qiao said that Wang inflated the costs of two car-making technologies valued at US$500,000 and US$20 million, to US$826 million and US$1.1 billion, and then traded them for US$283.2 million in cash and also transferred them into equity ownership, reducing the ownership interests of state-owned investors.[37] The one-third investor Nantong Jiahe conducted a financial audit and suspected Wang of providing false documents, and exploiting his position as CEO to steal large amounts of money, the administrative committee of the Jiangsu Rugao Economic and Technological Development Zone said.[37] The state investor then reported the matter to the police, which accepted the complaint.
Only Nantong Jiahe, a state-owned shareholder, invested in Saleen Automobile–it invested CNY3.4 billion (US$481.3 million) and owned 34% of the company; the other four shareholders of the company were
CEO Wang said: "We have adopted highly efficient intelligent production, which will make us one of the very few to do so in China," and that the company would "produce all sorts of passenger cars including sedans, SUVs, and crossovers."
He said that he wanted to turn the company into a brand rivaling Porsche.[38]
The government provided incentives and the company received capital that reportedly enabled the company to invest 17.8 billion yuan (US$2.5 billion) in a first factory, which Wang said would have the capacity to produce 150,000 cars annually.[39][40] The company then acquired 4 billion yuan, and invested in another factory nearby, which Wang said would produce 50,000 pure electric vehicles and 20,000 super cars annually.[41] CEO Wang said: "Among all EV manufacturers in China, [we are] the most effective. We have rich experience in financial control."
In 2019, the Chinese joint venture presented an updated version of the Saleen S7 (called the S7 Le Mans), at an event which featured actor Jason Statham at the Bird’s Nest stadium in Beijing.In addition to their American sports car, the company also promoted a few Rugao-built vehicles,[42] including a crossover called the "MAC".[43][44][45][46]
The company's only mass-produced model that it sold was the low-end pure electric microcar called the "MaiMai", with a maximum speed of 100 km/h and a new European driving cycle range of 305 km, which was introduced in 2019.[4][45][37][47] However, only 27 had sold as of April 2021, and only 31 as of May 2022.[4] It was priced at CNY 160,000 (US$24,048), and had been built at a cost of CNY 5 billion (US$751 million).
2020–present
In February 2020, the company's new Rugao factory was closed.[37]
In April 2020, the former senior legal manager at Saleen, Qiao Yudong, said that company chairman Charles Wang had made false claims about technology investment, and had embezzled millions of dollars from the state by inflating the costs of so-called "car-making technologies."[37][4] Qiao said that Wang inflated the costs of two car-making technologies valued at US$500,000 and US$20 million, to US$826 million and US$1.1 billion, and then traded them for US$283.2 million in cash and also transferred them into equity ownership, reducing the ownership interests of state-owned investors.[37] The one-third investor Nantong Jiahe conducted a financial audit and suspected Wang of providing false documents, and exploiting his position as CEO to steal large amounts of money, the administrative committee of the Jiangsu Rugao Economic and Technological Development Zone said.[37] The state investor then reported the matter to the police, which accepted the complaint.
in June 2020, the NantongIntermediate People's Court in China seized all of the company's assets, closed two Saleen Auto local factories, froze the equity of four shell companies owned by Wang that in turn were co-owners of Saleen Auto, expelled all of the company's foreign employees, froze the company's bank accounts, and closed Saleen Auto’s Shanghai branch eight months after it had been opened.[35][37][48][49]
The Chinese government said that Charlie Wang embezzled nearly $1 billion in state funds.[35] Wang then absconded to the United States.[4] In July 2020, Wang said that he had returned “back to my good old business as a lawyer and a law professor,” and that the developments with the company was persecution, though he did not name his persecutors; he did not say when he would return to China.[49] That month, Wang also sued the joint venture's China partner in Hong Kong, alleging it had breached a joint venture agreement and owed CNY300 million (US$42.8 million).[50]
The Nantong Intermediate People's Court put the company up for auction on May 30, 2022, including the company's uncompleted production facility in Rugao that was supposed to be completed in 2019 and be able to produce 150,000 cars per year.[35][51]
CEO Wang said: "We have adopted highly efficient intelligent production, which will make us one of the very few to do so in China," and that the company would "produce all sorts of passenger cars including sedans, SUVs, and crossovers."
He said that he wanted to turn the company into a brand rivaling Porsche.[38]
The government provided incentives and the company received capital that reportedly enabled the company to invest 17.8 billion yuan (US$2.5 billion) in a first factory, which Wang said would have the capacity to produce 150,000 cars annually.[39][40] The company then acquired 4 billion yuan, and invested in another factory nearby, which Wang said would produce 50,000 pure electric vehicles and 20,000 super cars annually.[41] CEO Wang said: "Among all EV manufacturers in China, [we are] the most effective. We have rich experience in financial control."
In 2019, the Chinese joint venture presented an updated version of the Saleen S7 (called the S7 Le Mans), at an event which featured actor Jason Statham at the Bird’s Nest stadium in Beijing.In addition to their American sports car, the company also promoted a few Rugao-built vehicles,[42] including a crossover called the "MAC".[43][44][45][46]
The company's only mass-produced model that it sold was the low-end pure electric microcar called the "MaiMai", with a maximum speed of 100 km/h and a new European driving cycle range of 305 km, which was introduced in 2019.[4][45][37][47] However, only 27 had sold as of April 2021, and only 31 as of May 2022.[4] It was priced at CNY 160,000 (US$24,048), and had been built at a cost of CNY 5 billion (US$751 million).
in June 2020, the NantongIntermediate People's Court in China seized all of the company's assets, closed two Saleen Auto local factories, froze the equity of four shell companies owned by Wang that in turn were co-owners of Saleen Auto, expelled all of the company's foreign employees, froze the company's bank accounts, and closed Saleen Auto’s Shanghai branch eight months after it had been opened.[35][37][48][49]
The Chinese government said that Charlie Wang embezzled nearly $1 billion in state funds.[35] Wang then absconded to the United States.[4] In July 2020, Wang said that he had returned “back to my good old business as a lawyer and a law professor,” and that the developments with the company was persecution, though he did not name his persecutors; he did not say when he would return to China.[49] That month, Wang also sued the joint venture's China partner in Hong Kong, alleging it had breached a joint venture agreement and owed CNY300 million (US$42.8 million).[50]
The Nantong Intermediate People's Court put the company up for auction on May 30, 2022, including the company's uncompleted production facility in Rugao that was supposed to be completed in 2019 and be able to produce 150,000 cars per year.[35][51]
in June 2020, the NantongIntermediate People's Court in China seized all of the company's assets, closed two Saleen Auto local factories, froze the equity of four shell companies owned by Wang that in turn were co-owners of Saleen Auto, expelled all of the company's foreign employees, froze the company's bank accounts, and closed Saleen Auto’s Shanghai branch eight months after it had been opened.[35][37][48][49]
The Chinese government said that Charlie Wang embezzled nearly $1 billion in state funds.[35] Wang then absconded to the United States.[4] In July 2020, Wang said that he had returned “back to my good old business as a lawyer and a law professor,” and that the developments with the company was persecution, though he did not name his persecutors; he did not say when he would return to China.[49] That month, Wang also sued the joint venture's China partner in Hong Kong, alleging it had breached a joint venture agreement and owed CNY300 million (US$42.8 million).[50]
The Nantong Intermediate People's Court put the company up for auction on May 30, 2022, including the company's uncompleted production facility in Rugao that was supposed to be completed in 2019 and be able to produce 150,000 cars per year.[35][51]
CEO Wang said: "We have adopted highly efficient intelligent production, which will make us one of the very few to do so in China," and that the company would "produce all sorts of passenger cars including sedans, SUVs, and crossovers."
He said that he wanted to turn the company into a brand rivaling Porsche.[38]
The government provided incentives and the company received capital that reportedly enabled the company to invest 17.8 billion yuan (US$2.5 billion) in a first factory, which Wang said would have the capacity to produce 150,000 cars annually.[39][40] The company then acquired 4 billion yuan, and invested in another factory nearby, which Wang said would produce 50,000 pure electric vehicles and 20,000 super cars annually.[41] CEO Wang said: "Among all EV manufacturers in China, [we are] the most effective. We have rich experience in financial control."
In 2019, the Chinese joint venture presented an updated version of the Saleen S7 (called the S7 Le Mans), at an event which featured actor Jason Statham at the Bird’s Nest stadium in Beijing.In addition to their American sports car, the company also promoted a few Rugao-built vehicles,[42] including a crossover called the "MAC".[43][44][45][46]
The company's only mass-produced model that it sold was the low-end pure electric microcar called the "MaiMai", with a maximum speed of 100 km/h and a new European driving cycle range of 305 km, which was introduced in 2019.[4][45][37][47] However, only 27 had sold as of April 2021, and only 31 as of May 2022.[4] It was priced at CNY 160,000 (US$24,048), and had been built at a cost of CNY 5 billion (US$751 million).
in June 2020, the NantongIntermediate People's Court in China seized all of the company's assets, closed two Saleen Auto local factories, froze the equity of four shell companies owned by Wang that in turn were co-owners of Saleen Auto, expelled all of the company's foreign employees, froze the company's bank accounts, and closed Saleen Auto’s Shanghai branch eight months after it had been opened.[35][37][48][49]
The Chinese government said that Charlie Wang embezzled nearly $1 billion in state funds.[35] Wang then absconded to the United States.[4] In July 2020, Wang said that he had returned “back to my good old business as a lawyer and a law professor,” and that the developments with the company was persecution, though he did not name his persecutors; he did not say when he would return to China.[49] That month, Wang also sued the joint venture's China partner in Hong Kong, alleging it had breached a joint venture agreement and owed CNY300 million (US$42.8 million).[50]
The Nantong Intermediate People's Court put the company up for auction on May 30, 2022, including the company's uncompleted production facility in Rugao that was supposed to be completed in 2019 and be able to produce 150,000 cars per year.[35][51]
