Reported 9 days ago
Pirelli's ability to invest in the United States is being hampered by its major shareholder, China's state-owned Sinochem, according to Marco Tronchetti Provera, the company's executive vice chairman. Conflicts between Chinese and Italian shareholders regarding governance are complicating negotiations with local authorities in states like Alabama and Virginia, especially amid US restrictions on Chinese technology in the automotive sector. Tronchetti expressed hope for an agreement with Sinochem to address these concerns, emphasizing the importance of operating competitively in the US market.
Source: YAHOO