Posted on 02/15/2023 12:22:16 PM PST by Jacquerie
After Michigan leaders pledged $1 billion in taxpayer subsidies to Ford’s new electric vehicle plant in Marshall, Florida Republican U.S. Sen. Marco Rubio is calling for an investigation into the agreement between Ford and its Chinese partner CATL.
Rubio sent a letter to U.S. Secretary of the Treasury Janet Yellen, U.S. Secretary of Energy Jennifer Granholm, and U.S. Secretary of Transportation Pete Buttigieg, calling for an immediate Committee on Foreign Investment in the United States review of the licensing agreement between Ford and CATL.
Rubio asked the Biden administration not to support Chinese Communist Party efforts by providing tax credits..
“[I]f Chinese companies like CATL are able to exploit both Chinese and United States incentives for battery and EV technology through clever corporate arrangements, then there is no use in investing federal funds toward industrial development in the first place,” Rubio wrote. “Taxpayer dollars should never be used to support [People’s Republic of China] champions.”
Michigan wasn’t Ford’s first choice for the factory – Virginia was – but Gov. Glenn Youngkin said his administration “felt that the right thing to do was to not recruit Ford as a front for China to America.”
Ford aims to use the plant to deliver an annual run rate of 600,000 electric vehicles by the end of this year.
“I am alarmed at Ford’s plan to establish a large, Michigan-based factory, structured as a wholly owned subsidiary that licenses its technology from CATL,” Rubio wrote. “As such, I write to request a Committee on Foreign Investment in the United States (CFIUS) review of the licensing agreement, as well as demand that no federal funds – especially monies or tax credits granted via the Inflation Reduction Act (P.L. 117-169) – go to enrich PRC national champion CATL, or any other Beijing-supported company, directly or indirectly.”
(Excerpt) Read more at thecapitolist.com ...
At a minimum, I guarantee Energy Secretary and former MI governor Jennifer Granholm is making big $.
Millions
The Donald told Ford not to go to China with their factories, but he should have also mentioned about the Chicoms investing in our factories.
Good!. Don’t need CCP spies stealing technology. F Ford and FJB! People in Marshall better think long and hard of the consequences. More crime, More influx of questionable people working there, destruction of small town lifestyle.
How much of the material for these batteries is still coming from China?
Another cackler, as well.
...interesting...
Ford and its Chinese partner CATL.
Korea and Russia next on Fords list as a partnership?.
Color Ford gone
Great Marco... sponsor a bill banning China from any American companies ownership (like Smithfield, AMC theaters, Dirt Devil, GE appliances, 25% of Hilton, farmland and other companies) and ban importation of Electronics used in the military, food and consumer goods (including EV autos).
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