Currently reading: Venezuela's car makers threat

President tells cars makers to share tech or get out of his country

Venezuela's president Hugo Chavez has told foreign car makers with plants in the country to share their technology with local businesses or leave the country.

If his demand isn't met, Chavez said: "I invite you to pack up your belongings and leave. I'll bring in the Russians, the Belorusians, the Chinese."

Chavez gave the ultimatum to Ford, General Motors, Toyota and Fiat during a public ceremony in the Venezuelan capital. They have not responded.

Chavez's government has recently nationalised major companies in the metals, cement, oil, coffee and electricity sectors as it aims to build a socialist economy.

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