WASHINGTON - Republican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electricWASHINGTON - Republican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway.
Republican Senator Marco Rubio and Republican representatives from the states sent a letter to Treasury Secretary Janet Yellen, urging the Committee on Foreign Investment in the United States to review Gotion's ties to China's Communist Party. That should trigger the review, and if necessary, Gotion High-Tech's divestment, the lawmakers said, especially since President Joe Biden has identified electric vehicles and batteries as critical parts of transportation infrastructure.
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US Republicans push for security review of China-linked battery companyRepublican lawmakers on Wednesday urged the U.S. Treasury Department to conduct a security review over China-linked ownership of Gotion Inc, which plans to build electric vehicle battery plants in Michigan and Illinois, arguing its management is under Beijing's sway. The move is the latest push by Republicans to question Chinese-linked EV battery producers looking to set up shop in the U.S., possibly with access to taxpayer funding. The governors of Michigan and Illinois have announced plans for Gotion to open EV plants in their states, facilities expected to create thousands of jobs.
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US firms in China say vague rules, tensions with Washington, hurting business, survey showsAmerican companies operating in China view tensions with Washington over technology, trade and other issues as a major hindrance for their businesses there, according to a survey by the American Chamber of Commerce in Shanghai. The survey released Tuesday showed a continued downgrading of China's importance as an overseas destination for investment, even though two-thirds of the 325 companies responding said they had no immediate plans to change their China strategy. Just over one in five of the
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