GM Eyes US-Made Chinese Batteries In Deal With Japan's TDK: Report
Portfolio Pulse from Nabaparna Bhattacharya
General Motors (GM) is exploring a partnership with Japan's TDK to produce Chinese batteries in the U.S., potentially creating over 1,000 jobs. This move aims to reduce dependency on China for EV components. GM shares rose 3.82% following the news.
September 12, 2024 | 5:26 pm
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GM is in talks with TDK to produce Chinese batteries in the U.S., potentially creating over 1,000 jobs. This strategic move aims to reduce dependency on China for EV components, aligning with U.S. policy goals. GM shares rose 3.82% on the news.
The partnership with TDK to produce batteries in the U.S. aligns with GM's strategy to localize production and reduce dependency on China, which is a significant concern for U.S. policymakers. This news positively impacts GM's stock as it addresses both strategic and political challenges.
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