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It is reported that China has postponed the approval of Geely and BYD's investment plans in the Americas.
According to reports from Reuters, due to increased tariffs in the USA heightening trade and economic uncertainty, China will delay the approval of the plans for Chinese Auto Manufacturers Geely (00175.HK) and BYD (01211.HK) to produce vehicles in Latin America. The news states that the time for approval of these two projects from China will be longer than expected. Representatives from both companies have been informed that the plans will face risks related to technology transfer, but no details have been provided. Geely and Renault announced in February this year that both parties had reached an agreement for Geely to use Renault's production facilities in Brazil and to Hold a minority stake in Renault's business in Latin American countries. BYD also at the end of last year.
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