China authorities blocked the expansion of BYD and Geely due to US duties

Reuters found that the investment plans of Chinese auto giants in South and North America have not yet found approval by the National Development Commission. The approval of projects by Beijing took more time, and representatives of BYD and Geely warned that the implementation of plans was associated with the risk of US transmission of electric car technologies.

Reuters sources say that Beijing’s position has become tighter due to Trump’s duties: innovations strengthen trade and economic uncertainty. Against this background, the projects of building the BYD plant and the purchase of a minority package of shares of the Brazilian branch of the Renault holding Geely are postponed indefinitely. China’s authorities began to be more careful about the approval of the investments of Chinese auto giants abroad.

Chinese BYD is building a car factory more than Paris as an auto business, lying on the fool of the Chinese auto giant BYD accused of using the “slave” labor

However, there is no question of the final blocking of speech: the terms of consideration of applications have been extended, and the assembly companies will ask to provide more detailed documents. The Geely representative denied Reuters Inside, saying that cooperation with Renault is successfully and is being implemented “without delay and additional checks.” In BYD and the National Development Commission, China did not respond to the agency’s requests.

Currently, more than 90% of BYD sales are in China, but the company is building auto equipment in Hungary, Mexico, Thailand, Uzbekistan and Brazil. Also, solid investments are invested in the development of their own fleet. Western journalists believe that China authorities are concerned about BYD technology leakage in the United States.

Great Chinese price: cool cars from China