financetom
Business
financetom
/
Business
/
Market Chatter: Some Ford, GM Vehicles Would be Impacted by New China Export Rule
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Market Chatter: Some Ford, GM Vehicles Would be Impacted by New China Export Rule
Oct 3, 2024 12:38 AM

01:33 PM EDT, 09/23/2024 (MT Newswires) -- Certain General Motors ( GM ) and Ford Motor ( F ) vehicles would be prohibited under a proposed Commerce Department rule cracking down on Chinese software and hardware in connected vehicles, an official reportedly told Reuters Monday.

Earlier in the day, the US Department of Commerce submitted a notice of proposed rulemaking that would prohibit the sale or import of connected vehicles that use certain technology, and the import of particular components from China and Russia.

General Motors' ( GM ) Buick Envision and Ford's Lincoln Nautilus are both currently assembled in China for the US market and both would "fall within the prohibitions," said Elizabeth Cannon, executive director of Commerce's information and communications technology office, to Reuters.

The automakers are aware that "going forward," Chinese production for the US market "would need to be shut down in China and moved elsewhere," Cannon told Reuters.

General Motors ( GM ) and Ford did not immediately reply to requests for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price: 47.56, Change: -1.33, Percent Change: -2.71

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
ChowChow Cloud Prices $10.4 Million IPO
ChowChow Cloud Prices $10.4 Million IPO
Sep 16, 2025
04:06 AM EDT, 09/16/2025 (MT Newswires) -- ChowChow Cloud International Holdings ( CHOW ) said Tuesday that it priced its initial public offering of 2.6 million ordinary shares at $4 per share for estimated gross proceeds of $10.4 million. The company also granted a 45-day option to the underwriter to buy up to 390,000 additional ordinary shares to cover possible...
Chenghe Acquisition III Prices Initial Public Offering
Chenghe Acquisition III Prices Initial Public Offering
Sep 16, 2025
04:06 AM EDT, 09/16/2025 (MT Newswires) -- Chenghe Acquisition III (CHEC) said late Monday it priced its initial public offering of 11 million units at $10 per unit. Each unit consists of one class A ordinary share and one-half of a redeemable warrant to purchase a class A share for $11.50, the blank-check company said. The underwriters have been granted...
Stellantis to recall over 53,000 US vehicles over fuel pump issue, NHTSA says
Stellantis to recall over 53,000 US vehicles over fuel pump issue, NHTSA says
Sep 16, 2025
Sept 16 (Reuters) - Chrysler-owner Stellantis ( STLA ) is recalling 53,849 vehicles in the U.S. due to an issue with fuel pump, which can result in a loss of fuel flow and loss of drive power, the National Highway Traffic Safety Administration (NHTSA) said on Tuesday. (Reporting by Angela Christy in Bengaluru) ...
KKR Acquires Japanese Insurance Distributor Hoken Minaoshi Hompo
KKR Acquires Japanese Insurance Distributor Hoken Minaoshi Hompo
Sep 16, 2025
03:37 AM EDT, 09/16/2025 (MT Newswires) -- KKR (KKR) said Tuesday it has acquired Japanese insurance distributor Hoken Minaoshi Hompo Group from Advantage Partners. Financial terms of the deal were not disclosed. KKR said Hoken Minaoshi Hompo's flagship brand offers in-store services at roughly 350 retail locations across Japan. ...
Copyright 2023-2026 - www.financetom.com All Rights Reserved