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© 2026 Benzinga | All Rights Reserved
June 20, 2023 8:44 AM 1 min read

US Lawmakers To Dissuade Automakers From China Reliance: Report

by Shivani Kumaresan Benzinga Staff Writer
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A group of U.S. lawmakers is expected to ask the top leadership of automotive giants General Motors Co (NYSE:GM) and Ford Motor Co (NYSE:F) to cut dependence on China.

The CEO's of the companies will be urged to lessen their reliance on China, particularly for electric vehicle batteries, reported Reuters.

About four lawmakers, part of the House of Representatives China Select Committee, will meet with Ford's Jim Farley and GM's Mary Barra in Detroit.

The members will also meet with executives from auto parts suppliers, including BorgWarner Inc (NYSE:BWA), Continental AG (OTC:CTTAY), Bosch and battery startup Our Next Energy.

Also Read: Ford, General Motors Optimistic On Demand

The report further noted Republican Mike Gallagher, who chairs the China committee, had in April raised concerns about Tesla Inc's (NASDAQ:TSLA) dependency on China after its plans to launch a megapack battery factory in China.

Also, Ford's plan to utilize Chinese battery company CATL's technology in its $3.5 billion Michigan battery plant proposal drew the ire of some lawmakers.

The $430 billion Inflation Reduction Act (IRA) aims to dissociate U.S. EV production from Chinese supply chains through new conditions on EV tax credits.

Also Read: General Motors Is An AI Powerhouse With Untapped Potential: Morgan Stanley

Price Action: GM shares are trading lower by 0.87% at $37.63 in premarket on the last check Tuesday

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Posted In:
EquitiesNewsMarketsMediaGeneralBriefsEurasia
F Logo
FFord Motor Co
$13.620.22%
Overview
GM Logo
GMGeneral Motors Co
$80.690.01%
BWA Logo
BWABorgWarner Inc
$52.74-%
CTTAY Logo
CTTAYContinental AG
$8.15-5.18%
TSLA Logo
TSLATesla Inc
$417.31-%
F Logo
FFord Motor Co
$13.620.22%
Overview
GM Logo
GMGeneral Motors Co
$80.690.01%
BWA Logo
BWABorgWarner Inc
$52.74-%
CTTAY Logo
CTTAYContinental AG
$8.15-5.18%
TSLA Logo
TSLATesla Inc
$417.31-%
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