A Shanghai-based manufacturer of advanced laser sensors for cars has accused the Biden administration of fostering a “xenophobic” environment for Chinese investors that will leave the US at risk of losing out on automotive innovation.
Louis Hsieh, chief financial officer of Hesai, said “hostile” attitudes towards Chinese investment had prevented it from opening a $60mn manufacturing plant in the US.
“The temperature is so high. It doesn’t matter what you want, if you’re trying to be a global corporate citizen and help America, they don’t care. The label China turns them off,” Hsieh said, calling for a “level playing field” for Chinese investors.
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