Tesla, General Motors, Volkswagen and other automakers are signaling a significant victory as China’s President Xi Jinping announced plans to lift strict rules requiring foreign car companies to share profits and operations with local firms.
The change is excellent timing for California-based electric-vehicle maker Tesla, which has indicated plans to build a plant in China. Under the new rules, the company will not have to share operations with a joint venture partner.
“It likely will make it easier for American car companies — not to mention German, Japanese and Korean automakers — to rack up profits in China, the world’s largest automotive market.”
Read the article at Detroit Free Press.