Beijing won't demand Chinese control of EV technology
China has backed away from a controversial proposal that would have required foreign companies producing EV components in China to give their Chinese partners a controlling share of their ventures, China Business News reported.
The central government previously announced that Chinese partners must hold at least 51 percent of any joint venture that produces key EV parts, reported the Shanghai-based business daily.
These parts include components used to make batteries, electric motors and vehicle control systems, according to the newspaper.
But the final draft of Beijing's new ten-year plan for the EV industry will drop restrictions on foreign ownership for joint ventures that produce key EV components.
The government took action after foreign auto executives warned that they would withhold EV technology from the China market if they could not control it.
