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CN Govt Suggests Automakers to Make EV Knock-down Kits in CN, Only Assembly in Overseas Plants: Wire
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Chinese automakers have been building factories in Spain, Thailand and Hungary in recent years to circumvent higher tariffs and accelerate their expansion into overseas markets. However, Bloomberg cited people with the knowledge of the matter saying that the Chinese authorities have recently urged automakers to keep key technologies for electric vehicles (EVs) in China, suggesting that they produce key components in their domestic factories and export knock-down kits to overseas markets for assembly in the destination market. As the relationship between China and India remains tense, the Chinese authorities have specifically reminded automakers not to set up factories or make any automobile-related investments in India, and automakers planning to invest in Turkey have also been asked to notify the Ministry of Industry and Information Technology (MIIT) in advance. AAStocks Financial News |
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