GM Moving Its Electric Vehicle Development to China -- Incredible Story -- But Nothing To Do With The Bakken

From USA Today via JunkScience.com: (and sent to me by Greg at FourFiftyGas.com -- )

General Motors agreed in Shanghai today to develop an electric vehicle platform with longtime Chinese partner SAIC. It effectively moves GM’s future electric vehicle development to China. Unclear is whether this would also lead to assembly of future EVs for the U.S. market in China.

I guess GM has learned from GE -- move new technology to China. GE moved its medical appliance headquarters to China, reported sometime last year (2011).

The deal came as the Chinese government is pushing foreign automakers to give Chinese companies EV technology they lack, according to an Associated Press report. U.S. lawmakers have complained that China is “shaking down” GM to get Volt secrets. Electric vehicle development in the U.S. has been developed with extensive U.S. taxpayer funding.

Details of the plan were not provided, and GM has denied it will involve handing over intellectual property underlying the Volt.

Sure.