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U.S. Senator Marco Rubio (R-FL), U.S. Representative John Moolenaar (R-MI), and several other House Republicans from Michigan and Illinois sent a letter to Secretary of the Treasury Janet Yellen, "urging the Committee on Foreign Investment in the United States (CFIUS) to review the ownership of Gotion, Inc.
At a U.S. House of Representatives hearing yesterday on "Oversight of the Committee on Foreign Investment in the United States (CFIUS) and Other Efforts to Strengthen National Security in the United States," Congressman Bill Huizenga (R-MI) had two exchanges with Assistant Secretary of the Treasury Department Paul
A Chinese company's investment in a battery-making facility in the state of Illinois has just been announced, even as a similar investment in Michigan continues to generate controversy.
The Committee on Foreign Investment in the United States (CFIUS) -- an interagency taskforce overseen by the Department of the Treasury -- has determined that Chinese company Gotion's proposed battery facility in Michigan is not a covered real estate transaction or purchase, and can move forward.
Last year, a Chinese company announced a $2 billion dollar investment in a battery component factory in Michigan. Like some other recent Chinese investments in the United States, however, this one has now been caught up in political controversy.