Market Chatter: China Asks Automakers to Assess Risks Before Investing Overseas

MT Newswires Live

Sep 13, 2024

China's commerce ministry warned carmakers of the risks associated with overseas investments, discouraging them from investing in Russia, Turkey, and India, Reuters reported Thursday, citing two people briefed about the matter.

China also gently discouraged investments in Europe and Thailand. Car makers were encouraged to make knockdown kits at home, which were then assembled in overseas factories, the publication added, citing a person in the know.

China's state-owned SAIC Motor's (SHA:600104) investments in India haven't lived up to expectations. Geely (HKG:0175) is currently looking for a location for its European factory. The Chinese Commerce Ministry did not comment, Reuters added.

(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.)

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