Mar. 13 at 8:39 PM
$F authorizes buyback of up to 31.7M common shares
Separately, US auto lobbyists urged the Trump admin to keep China carmakers out of the American market
China’s efforts to “dominate” the global auto industry and gain access to the US “pose a direct threat to America’s global competitiveness, national security, & automotive industrial base
Lobbyists say that China’s policies allow its domestic industry to sell vehicles at unfairly low prices & say that Canada’s decision to let some Chinese vehicles into the country creates “a potential backdoor” for those companies to enter the US market
Canada recently announced plans to exempt as many as 49K Chinese-made EVs annually from heavy tariffs, breaking from the US w/ a dramatic policy shift after continued threats from the Trump Admin to bring all auto manufacturing back to the US & w/ punitive tariffs
BYD have said they are exploring building a wholly-owned manufacturing plant in Canada & open to acquiring a legacy automaker plants
$GM $TSLA
