Lutnick later elaborated on the sidelines of the same event, noting the moderator’s question had specifically mentioned BYD. “We are not going to have them here,” he told Bloomberg News.
(April 18): Commerce Secretary Howard Lutnick ruled out the possibility of Chinese investment in the US auto industry, saying there is no need for companies like electric carmaker BYD Co in America.
When asked during a fireside chat at a Semafor event in Washington on Friday whether a joint-venture factory by BYD is on the table, the commerce secretary gave a one-word answer — “no” — drawing laughter from the audience.
