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Market Chatter: Some Ford, GM Vehicles Would be Impacted by New China Export Rule
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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

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