Chinese officials have reportedly waived the requirement for some electric vehicle makers to form joint ventures with Chinese companies before operating in that country. Previously, Beijing had hoped the joint venture requirement would give Chinese automakers access to foreign EV technology. That never happened, and now the government has other priorities.
Foreign companies will be allowed to produce EV batteries, electric motors, battery management systems and electronics without forming joint ventures with Chinese partners, the report said.
It could give a boost to Nissan, an EV pioneer with its Leaf, and General Motors, which is set to begin shipping the Bolt -- its first all-electric vehicle -- by the end of 2016.General Motors, which is a top China automaker via joint ventures, was up 1.7% to 32.03 at the close Thursday. Nissan lost 1.1% to 19.63.