Although it happened back in September, 2011, it appears many American taxpayers are unaware that General Motors struck a deal in Shanghai wherein the company has agreed to develop an electric vehicle (EV) platform with its longtime Chinese partner SAIC.
What else was included in this deal? GM has agreed to effectively move all future EV development to China. It could also mean that production of the vehicle itself will be moved overseas.
The agreement is the result of the Chinese government coercing foreign automakers into giving Chinese companies the EV technology they lack, according to an Associated Press report. Unsurprisingly, some U.S. lawmakers have voiced concerns that the deal is little more than a “shake down” from the Chinese to get GM’s Volt secrets. GM has denied reports that it will hand over the intellectual property underlying the Volt.
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