Xconomy: Is China Afraid to Compete?
Thomas Lee 7/11/11
China has been a Godsend to Detroit. Even as Ford Motor, General Motors, and Chrysler have stumbled in recent years, the country has provided a nice boost to sales of American cars equipped with traditional internal combustible engines.
But when it comes to electric vehicles…well, China has its own plans.
The country is spending billions of dollars to develop home-grown battery and motor technology, hybrids, and full plug-in cars, trucks, and buses. And to protect its nascent industry, the Chinese central government has recently issued draft guidelines that limit foreign investment in certain electric vehicle components and require overseas firms to disclose intellectual property secrets to Chinese companies.
“China wants to place some serious restrictions” on foreign auto makers, says Kevin… Read more »