A bipartisan group of U.S. lawmakers will urge the CEOs of Ford Motor and General Motors to shrink reliance on China auto parts, according to Reuters.
to shrink reliance on China auto parts, particularly electric vehicle batteries, sources told Reuters on Monday.
Republicans Mike Gallagher and John Moolenaar and Democrats Raja Krishnamoorthi and Haley Stevens also plan to meet with executives from auto suppliers including BorgWarner, Continental, Bosch, Tenneco and battery startup Our Next Energy . The $430 billion Inflation Reduction Act signed by President Joe Biden in August aims to wean U.S. EV production from Chinese supply chains by imposing new conditions on EV tax credits. The new tax credit rules restrict eligibility to only North American assembled vehicles and set battery sourcing rules.
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