Saleen Automotive, Inc. (fka SLNN)

[BenjOnLine]

To me it was like this: The Chinese state invested because they could just go get whatever IP of Saleen (and maybe others) and bring it back to China, so it was OK to put billions in Chinese state money into it. Do you see how this works? Think: all other companies too.

Translated: we can just go to the US and get whatever IP and 100% own and build it in China. Pay no attention to the man behind the curtain and all those jobs and opportunity lost in the US.

With this gone Saleen loses a competitor for his IP, but also a state run well funded development partner. Saleen was probably totally ripped off anyway. Chinese state was garnering 100% ownership over the Saleen IP, seems not so great for Saleen or even any US investor.

Good or bad? only time will tell but it opens doors for new opportunity for Saleen, trying to be positive.