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Ford's Decision to Deepen Co-op with CATL Concerns US Congress
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Ford (F.US)'s decision to expand its cooperation with CATL (03750.HK) in producing energy storage batteries has drawn dissatisfaction from US Congress members, The Financial Times reported. According to the licensing agreement between Ford and CATL, Ford will apply CATL's technology in a wholly-owned plant valued at USD3.5 billion and will receive substantial federal manufacturing tax credits. John Moolenaar, Chairman of the US House Select Committee on China, sent a letter to Ford CEO Jim Farley requesting an explanation of the nature of Ford's close tie with CATL. Moolenaar also asked for clarification on the original terms of the licensing agreement and whether the agreement grants CATL any rights to influence production, retain technological control, or receive royalties based on output. AAStocks Financial News |
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