Exclusive-China delays approval for Geely, BYD investment plans in Latin America, sources say [Yahoo! Finance]
RENAULT SA UNSP/ADR (RNLSY)
NASDAQ:AMEX Investor Relations:
group.renault.com/en/finance-2
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Source: Yahoo! Finance
Geely and Renault said in February they had reached an agreement for Geely to use the French automaker's production facilities in Brazil and take a minority stake in Renault's business in the Latin American country. BYD announced plans for a Mexican plant in 2023 and said last year it would announce where the factory would be located by the end of 2024. But approval from Beijing has taken longer than anticipated for both projects and China's state planner told representatives at the automakers that there would be technology transfer risks in the plans, without elaborating, the people said. Officials at the country's auto industry associations also cautioned in separate conversations with the automakers that U.S. President Donald Trump's tariffs would create uncertainties in global trade and economies, and complicate the risks and returns of their investments, they said. The people cautioned that discussions were still fluid and subject to change. A third source said that au
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