VIDEO: Huizenga Blasts CFIUS failure on A123 and Gotion, Opens Door for Reform In Order to Protect Taxpayers and National Security
Washington, September 13, 2023
Today, Congressman Bill Huizenga (R-MI) pressed Assistant Secretary of the Treasury for Investment Security, Paul Rosen, over concerns surrounding the federal government’s oversight of Gotion Inc.’s proposal to build electric battery plants near Big Rapids, Michigan. The parent company of Gotion has established ties to the Chinese Communist Party.
During the House Financial Services Hearing on the Committee on Foreign Investment in the United States (CFIUS), Huizenga pointed out and connected the current concerns regarding Gotion to a previous CFIUS failure regarding the acquisition of A123 Systems roughly a decade ago by China. Earlier this year, Alan Estevez, the Under Secretary of Commerce for the Biden Administration, admitted to Congressman Huizenga that approval of A123 by CFIUS was “probably not the best decision that CFIUS made.”
In his closing remarks, Huizenga raised the importance of ensuring CFIUS has the ability to protect taxpayers and our national security from the challenges created by the CCP and other entities. Video of Congressman Huizenga’s exchange with Assistant Secretary Rosen is available below.