China REQUIRES all foreign investors to give up their technology to them for the "right" to build goods there. Obama-seized GM can deny it till the cows come home, but it's still a lie.
Dismantling America, chunk by chunk, piece by piece.
Anybody see the tyrant-in-chief's body language, facial expressions and hand gestures, not to mention his words, at his Ohio press conference today? He simply can't hide his hatred for America.
GM deal moves electric car development to China -- a 'shakedown'? USA Today (hat tip Van)
General Motors agreed in Shanghai today to develop an electric vehicle platform with longtime Chinese partner SAIC. It effectively moves GM's future electric vehicle development to China. Unclear is whether this would also lead to assembly of future EVs for the U.S. market in China.
The deal came as the Chinese government is pushing foreign automakers to give Chinese companies EV technology they lack, according to an Associated Press report. U.S. lawmakers have complained that China is "shaking down" GM to get Volt secrets. Electric vehicle development in the U.S. has been developed with extensive U.S. taxpayer funding.
Details of the plan were not provided, and GM has denied it will involve handing over intellectual property underlying the Volt.