Nancy Pelosi's Impact, Tesla Stock Runs Down & China Operations Halted

 The visit of the representative of the United States (US), Nancy Pelosi to Taiwan has invited protests by the electric car (EV) battery supplier giant from China.

According to sources, Contemporary Amperex Technology Co. China-owned Ltd (CATL), a major supplier of Tesla Inc and Ford Motor Co, delayed the launch of a multimillion-dollar industrial site.

It is understood that CATL in the process of site selection and incentive negotiations, decided to wait until September or October to reveal their choice.

The source added, the delay was made based on the current tense situation between US-China relations following Nancy Pelosi's controversial visit to Taipei.

So far, CATL, Tesla and Ford have not released any further statements.

Meanwhile, Tesla shares were seen surging during yesterday's New York trading session to close 1.1% at $901.76 while Ford was down 1.2% at $15.16.

Revealing the controversy of Pelosi's visit, the Chinese government gave a stern warning to the US considering that they consider Taiwan to be part of its territory.

However, Pelosi's stubborn action and continuing the visit has sparked tension between the two countries that have previously experienced problems.

It should be noted that China was a strong supporter of Russia when the US sided with Ukraine during the aggression crisis early last year.

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