China scraps foreign auto ownership caps


Further opening its markets, China is removing a two-decade restriction on foreign automakers, which can currently only own a 50% share of any local venture.

The rule change could boost Tesla (NASDAQ:TSLA), which has been seeking to set up a wholly owned plant in Shanghai, as well as other global carmakers.

Ownership limits for new EVs will be removed this year, commercial vehicles in 2020 and passenger vehicles in 2022.

Related tickers: GM, F, TM, HMC, OTCPK:DDAIF, OTCPK:BAMXF, OTCPK:VLKAF





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