Chinese automaker Geely is changing its plans for entry to the U.S. market. The automaker is dropping plans to adapt its current lineup of budget vehicles and instead will develop an all-new car specifically for United States and European markets.

The automaker was expected to bring the Geely CK to the United States in late 2008 for around $10,000. Now, everything is “in limbo,” according to John Harmer, former Geely COO. Li Shufu, chairman of Geely Automobile Holdings Group, is seeking funding to build a $400 million plant in North America.

## Source: Automotive News ##

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