WASHINGTON :U.S. Senator Marco Rubio on Thursday introduced legislation that takes aim at Ford Motor's deal to use technology from Chinese battery company CATL as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan.Rubio, the top Republican on the Intelligence Committee, i
WASHINGTON :U.S. Senator Marco Rubio on Thursday introduced legislation that takes aim at Ford Motor's deal to use technology from Chinese battery company CATL as part of the automaker's plan to spend $3.5 billion to build a battery plant in Michigan.
Rubio called for an immediate Committee on Foreign Investment in the United States review of the licensing agreement between Ford and CATL. CFIUS is a U.S. Treasury-led interagency panel that reviews proposed transactions to ensure they do not harm national security. Ford has said the plant would create 2,500 jobs and begin producing lower cost and faster recharging lithium-iron-phosphate batteries in 2026. It would own and control the facility with no foreign investment or U.S. tax dollars going to CATL, the automaker said last month.
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