Asia Tech Wire (Sep 12) -- Beijing is reportedly urging automakers to keep key technologies for electric vehicles at home.
Chinese automakers have been building factories in Spain, Thailand and Hungary in recent years to avoid higher tariffs and accelerate their expansion into overseas markets.
However, Chinese authorities have recently urged automakers to keep key technologies for electric vehicles at home, Bloomberg reported, citing sources.
Beijing has also suggested that carmakers produce key components in domestic factories and export knock-down kits of complete vehicles overseas for assembly in their destination market.
The report also said that due to the continuing tensions between China and India, the authorities have specifically warned Chinese car companies not to set up factories or make any car-related investments in India.
In addition, automakers planning to invest in Turkey need to notify China's Ministry of Industry and Information Technology (MIIT) in advance.