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An article from MNA:
U.S. officials are interested in making sure Chinese automotive technology stays out of the U.S., and for some very good reasons. The suggestion that the Trump Administration’s resolve is fading, however, sent shares of Ford Motor down in midday trading on Wednesday. Ford stock closed down 3.9% at $13.45, giving up earlier gains, while the was off 0.5%.
General Motors (NYSE:GM) and SAIC Motor agreed to extend their joint venture for another 20 years to deepen cooperation in intelligent electric vehicles and global expansion. GM signaled a renewed long term commitment to the Chinese market and global EV manufacturing through the extended SAIC-GM partnership. Separately, GM was removed as a key partner from a major new LG Energy Solution battery plant project in the US as the company adjusts its North American battery strategy. The twin moves...
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