The automotive arm of a large Chinese corporation, Zhejiang Geely Holding Group, is looking to gain a foothold in the U.S. market and may get a boost from President Joe Biden’s administration.
Polestar is hoping that some of the all-electric SUVs made at its upcoming South Carolina factory will qualify for a $7,500 consumer tax credit offered through Biden’s cornerstone climate law, the Inflation Reduction Act, which subsidize the purchase of electric vehicles, Yahoo Finance reported.
Geely chairman Li Shufu is a rare Chinese business leader who does not have membership in the Chinese Communist Party, but does serve as a member of a major “political consultative body” advising the Chinese government, according to the National Committee of the Chinese People’s Political Consultative Conference.
A Chinese conglomerate is looking to gain a foothold in the U.S. auto market and may get a boost from President Joe Biden’s administration.Polestar — […]
Excerpt Sourced From: americafirstreport.com
