Ford Criticizes White House Letter on China Tech Partnerships
Ford’s stock was volatile after a White House challenge to its strategy using Chinese partners. Transportation Secretary Sean Duffy wrote CEO Jim Farley citing concerns about manufacturing integrity and foreign-adversary technology, including CATL battery tech in Michigan, a Geely-linked Spain factory, and BYD talks for hybrid components. Ford replied and clarified its Michigan battery plant is a limited licensing/services deal, not a joint venture.
Coverage (3)
- Ford blasts Duffy criticism of China tech partners, calls letter 'wrongheaded' (finance.yahoo.com)
- Ford blasts White House criticism of China tech partners, calls Duffy letter 'wrongheaded' (finance.yahoo.com)
- Ford: Duffy criticism over deals with China ‘wrongheaded attempt to capture headlines’ (thehill.com)