-- Connecting the dots between our economy, government and business --
![In May 2017, Gotion High-Tech established a joint venture with Shanghai Electric. [Image from Sohu.com]](https://images.dailycaller.com/image/width=960,height=411,fit=cover,f=auto/https://cdn01.dailycaller.com/wp-content/uploads/2023/10/imageedit_37_2444209426-e1697490718102.jpg "In May 2017, Gotion High-Tech established a joint venture with Shanghai Electric. [Image from Sohu.com]")
Gotion High-Tech, the Chinese parent company of Gotion Inc., which intends to build electric battery plants in Michigan and Illinois, operates a joint venture in the People’s Republic of China (PRC) that contracts with a U.S.-sanctioned entity, according to a Daily Caller News Foundation review of Chinese-language news reports and business filings.
Summary and audio linked here.
Chicago’s political leadership is floating a pension buyout program as evidence it is seriously addressing the city’s thirty-six-billion-dollar unfunded pension liability, but Mark Glennon, founder of the Illinois policy research organization Wirepoints, said that the proposal moves debt from one column to another rather than reducing it, and that the broader fiscal picture facing the city continues to deteriorate across every measurable dimension. Audio here.
Expect no retraction or apology. This what they do.
The state’s existing buyout program for its own pensions is the precedent for Chicago, which should be a warning: Look out for similar exaggerated claims and shoddy analysis.
Full interview and summary linked here.
SIGN UP HERE FOR OUR FREE WIREPOINTS DAILY NEWSLETTER
According to Reuters the state of Michigan is having the same concerns since Gotion is also building a battery plant there. The jobs will be nice but what does it mean if the controlling company is located in China? The factory will not be a union shop I assume.
I wonder if Pritzker read this article? Demand worldwide for EV’s is going down and JB is pushing for more EV’s. Maybe the Gotion facility is better off making Duracell Hearing Aid batteries since the pols are deaf to market demands.
https://www.thestreet.com/electric-vehicles/global-electric-vehicle-adoption-curve-slowdown-ev-tesla-detroit-three?puc=yahoo&cm_ven=YAHOO
Electric vehicles are the future, it’s just a matter of how quickly the public wants to adopt them. The sooner we can use EVs the sooner we can stop being dependent on oil.
Once we have more charging stations across the country that will help with range anxiety.
Who is in support of this plant, other than Jabba the Guvnuh?
Anyone who cares about future jobs. The car industry is going electric, and this plant will provide many good jobs for decades to come. Illinois has chase so many businesses away, beggars cannot be choosers.