We may earn commissions if you use the recommended services on this site.  

GOP Lawmakers Call for Treasury Department Investigation of CCP-Affiliated Firm Constructing Battery Plants in the US

Latest Business News

Republican Lawmakers Call for Investigation of CCP-Affiliated Firm Building Battery Plants in the US

Republican lawmakers have written a letter to the Treasury Department, urging it to investigate Gotion Inc., a company planning to build electric battery plants in Illinois and Michigan. The lawmakers, including Sen. Marco Rubio and Reps. Mike Bost, John Moolenaar, Bill Huizenga, and Lisa McClain, called for a rigorous review of Gotion High-Tech's ownership of Gotion Inc. due to its affiliation with the Chinese Communist Party (CCP). They expressed concerns about Gotion High-Tech's membership and affiliation with the CCP, citing reports of company retreats where employees were required to recite a pledge of loyalty to the Party.

National Security Concerns

The lawmakers argue that Gotion Inc.'s ownership by Gotion High-Tech, with its ties to the CCP, warrants a thorough investigation by the Committee on Foreign Investment in the United States (CFIUS). They highlight the potential national security implications of Gotion High-Tech's control over critical infrastructure related to electric vehicle (EV) batteries.

State Approvals and Incentives

Gotion Inc. has received approval from Michigan Governor Gretchen Whitmer and the Biden administration to invest billions of dollars in constructing EV battery production plants in Michigan. They have also announced plans for a major battery plant in Illinois, supported by state incentives. These developments have raised concerns among lawmakers regarding the involvement of a CCP-affiliated company in critical industries.
Request for Immediate Review
In the interest of national security, the lawmakers have requested an immediate CFIUS review and, if necessary, the divestment of Gotion Inc. by Gotion High-Tech and its CCP owners. In conclusion, Republican lawmakers are calling for an investigation into Gotion Inc., citing concerns over its affiliation with the CCP and its involvement in critical infrastructure projects. The outcome of this investigation could have significant implications for the future of Gotion Inc.'s operations and the broader landscape of foreign investment in the US.

Impact of Potential Investigation on New Businesses

The call for a rigorous review of Gotion High-Tech's ownership of Gotion Inc. by Republican lawmakers could have significant implications for new businesses, particularly those in the electric vehicle (EV) battery industry. The investigation, if pursued, could potentially disrupt Gotion Inc.'s plans to construct several EV battery factories in Michigan and Illinois.

Political Influence and Business Operations

The lawmakers' concerns about Gotion High-Tech's affiliation with the Chinese Communist Party (CCP) highlight the potential impact of political influence on business operations. New businesses, particularly those with foreign affiliations, may need to be prepared for increased scrutiny and potential regulatory challenges.
Future Business Landscape
The potential investigation could also shape the future business landscape, particularly in the EV battery industry. If the Treasury Department decides to order the divestment of Gotion Inc. by Gotion High-Tech, it could open up opportunities for other players in the industry. In conclusion, the call for an investigation into Gotion High-Tech's ownership of Gotion Inc. underscores the potential complexities of doing business in a politically charged environment. New businesses must navigate these challenges while striving to innovate and grow in a competitive market.
Story First Published at: https://dailycaller.com/2023/09/20/gop-ccp-battery-plants-cfius/
Brought to you by BusinessFormation.io
Know Your State's Registered Agent Requirements: What is a Registered Agent
Learn How To Create An LLC: What Is An LLC and How To Start an LLC Online

LLC Filing & Registered Agent Services

Compare Online LLC Filing Services Today

We work with the market leaders in business formation and registered agent services.

Getting started is simple and inexpensive. Form your business today & secure your brand name before someone beats you to it! Click below to view the Top 3 Best LLC and registered agent service providers.
View Top 3 Providers Now

Filing An LLC Can Be Complicated

Streamline Your LLC Filing Online for $39

Northwest Registered Agent is the best-rated service for first time filers.

Get professional LLC formation & registered agent services for only $39 + state filing fee. This offers includes your full LLC setup, plus a private business address, lifetime support, and more.

Trusted by Millions. Save 82% Today.