Ford Rebuts White House China Critique as Stock Swings After Duffy's Letter

3 articles · Updated · Yahoo Finance · Sep 9

Ford forcefully rejected Transportation Secretary Sean Duffy's warning over its China-linked partnerships, calling his letter a "wrongheaded" headline grab and disputing claims about foreign dependence.
CATL sits at the center of the clash: Ford said its Marshall, Michigan battery project is a technology-licensing deal, not a joint venture, and stressed that Ford owns the plant and employs the workforce.
Duffy had also flagged Ford's Geely factory in Spain, BYD component talks and an alleged plan to ease Chinese joint ventures in the U.S.; Ford denied the joint-venture claim and said Lincoln Nautilus reshoring is still being pursued.
Ford shares fell on Tuesday after Duffy's letter before recovering slightly Wednesday, as the unusually public exchange exposed friction between CEO Jim Farley and a White House that had recently praised Ford's Michigan investment.