Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia.
Rows of new energy vehicles are parked at Changan Automobile's vehicle distribution center in Chongqing, China, on January 14, 2024.Shares of Chinese automakers climbed Tuesday, shrugging off a U.S. government proposal to ban certain types of vehicles equipped with car parts from China and Russia, amid a broad rally after Beijing announced policy easing.
"Cars today have cameras, microphones, GPS tracking, and other technologies connected to the internet. It doesn't take much imagination to understand how a foreign adversary with access to this information could pose a serious risk to both our national security and the privacy of U.S. citizens," said Commerce Secretary Gina Raimondo.