GM Deal Moves Electric Car Development To China
General Motors agreed in Shanghai to develop an electric vehicle platform with the Chinese. It effectively moves GM's future electric vehicle development to China. Unclear is whether this would also lead to assembly of future EVs for the U.S. market in China. U.S. lawmakers have complained that China is "shaking down" GM to get Volt secrets. Electric vehicle development in the U.S. has been developed with extensive U.S. taxpayer funding.The deal with Chinese government-owned SAIC was signed during a meeting of GM's board in Shanghai — a visit underscoring China's importance to GM. It was the board's first meeting outside the U.S. Shanghai is the site of GM's international headquarters.
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