China’s largest battery company halts investment in the United States

Amperex Technology Limited (CATL), the largest electric car battery maker and supplier of, among others, Tesla, is delaying the announcement of a multi-billion dollar investment in North America, after US-China ties tightened for Nancy. Pelosi’s visit to Taiwan.

CATL was ready to announce plans to build an electric car battery manufacturing site in North America, but has now postponed the announcement, it said.or the Bloomberg lineKnow the developments.

After days of speculation, the US House of Representatives speaker traveled to Taiwan on Tuesday, marking the high-profile US visit to Taiwan in the past 25 years. China, which claims Taiwan, criticized the visit, saying it “has a serious impact on the political foundations of Sino-US relations and flagrantly violates China’s sovereignty and territorial integrity. It severely undermines peace and stability across the Taiwan Strait and sends a grossly wrong signal to the separatist forces for “Taiwan independence” .

“China firmly opposes and resolutely condemns this behavior, and has made a serious initiative and strong protest to the United States,” the Chinese Foreign Ministry said Tuesday.

After the new deterioration in US-China relations, CATL will now abandon this announcement. CATL is headquartered in Fujian, across the Taiwan Straits.

The Chinese battery maker was at an advanced stage of the site discussion and looked at sites in the United States and at least two other sites in Mexico near Texas. Bloomberg sources said the initial plan was to announce in the coming weeks, but that CATL will likely wait until next month or October due to concerns about US-China relations after Pelosi’s visit to Taiwan.

See also  Will Garmin Pay back $10m Ransom To End Two-Working day Outage?

Pelosi’s trip to Taiwan included meetings with leaders and was greeted on Wednesday with another polite statement from China, whose Foreign Minister Wang Yi said “those who play with fire will not succeed in business. It is over and whoever offends China will be punished,” according to the newspaper. BBC.

“The United States is violating China’s sovereignty under the guise of so-called democracy,” the Chinese minister added.

. (CATL), the largest electric car battery maker and supplier of, among others, Tesla, is delaying the announcement of a multi-billion dollar investment in North America as US-China relations further solidify with the Speaker’s visit. Nancy Pelosi’s home to Taiwan.

Sources familiar with the developments said that CATL was ready to announce plans for an electric car battery manufacturing site in North America, but has now delayed the announcement. So China really intends to make the United States pay for diplomatic insolence, but not in a military way, as in an economic way. Thanks to hairy hair now, hundreds of millions of investments in the United States have been frozen…


cable
Thanks to our Telegram channel, you can stay updated with new articles from economic scenarios.

⇒ record Immediately


minds

Leave a Reply

Your email address will not be published.