China Hopes to Bully Foreign Companies, Trade Market Access for Electric Vehicle Technology
The chips are finally hitting the fan. China has put the word out there that it may play a big power card in the near future: give us all the secrets to your tech, or we won't let you build and sell in our ever-growing Chinese market. According to the Wall Street Journal, executives have been given a proposal that would provide China with a majority share in any joint venture involving foreign companies introducing "key new-energy components...such as advanced lithium-ion batteries and high-power electric motors". This would allow China to gain control of the technology that minority shareholders (i.e. anyone else) bring to the table. In response to this, one anonymous executive said, "[This is] tantamount to China strong-arming foreign auto makers to give up battery, electric-motor, and control technology in exchange for market access. We don't like it." Another executive has claimed this sort of scheme simply "raises the hurdle" in building elec...