US lawmakers push for reduced auto industry dependence on China.
Originally Published 2 years ago — by Reuters
A bipartisan group of US lawmakers will meet with the CEOs of Ford and General Motors to urge them to reduce their reliance on Chinese auto parts, particularly electric vehicle batteries. The lawmakers will also meet with executives from auto suppliers including BorgWarner, Continental, Bosch, Tenneco, and battery startup Our Next Energy. The focus on Chinese auto parts comes after US Secretary of State Antony Blinken's visit to Beijing failed to produce any major breakthroughs. The $430 billion Inflation Reduction Act signed by President Joe Biden aims to wean US EV production from Chinese supply chains by imposing new conditions on EV tax credits.