China Delays BYD Factory in Mexico Over Concerns Tech Will Leak to American Rivals

China is frequently a target of criticism over allegations that it does not innovate but instead exfiltrates intellectual property developed abroad and wins by undercutting rivals on price. Now that the country has arguably leapfrogged America in electrical vehicle technology, it is starting to see the value in protecting domestic business in the free market. According to the Financial Times, authorities in China have delayed approval of a new BYD factory in Mexico over concerns that its electric vehicle technology will be lifted over the southern border. It is very much a “Spiderman pointing at Spiderman” type situation. From the article: Domestic automakers require approval from China’s commerce ministry to manufacture overseas and it has yet to give approval, according to two people familiar with the matter. Authorities feared Mexico would gain unrestricted access to BYD’s advanced technology and knowhow, they said, even possibly allowing US access to it. “The commerce ministry’s ... Read full article.