Not sure it is buying any tech as much as mfg facility in China with China partner due to China’s restrictive trade and mfg policies.

In the past, the concern was the Chinese automakers would gain access to their partners’ intellectual property. The VW and Stellantis deals show legacy automakers now are willing to pay premiums for minority stakes in Chinese EV makers to gain access to their technology.

If those Boomers on my Facebook feed could read and accept new information, they would be very upset

Chinese automaker Geely in what I’m guessing will eventually be viewed as the steal of the century bought Volvo car division for $1.8b from Ford and did an IPO in 2021 for something like 12% of it. The new EX30 small SUV coming in 2024 may be enormously popular in the US even without an ev credit, based on how it’s anticipated and is priced in EUR. Test drive inventory coming to EUR dealers starting Nov 2023. Base will be $36k USD, about $41k for AWD. Think about it…access for ev’s to US and EUR with a strong brand, and China for the win.

This could be a good strategy for Toyota and other legacy companies that missed the boat. One thing is partnering with another company to make the cars for you, but if at the same time your engineers and corporate are learning from the partner’s engineers, then you don’t have to develop from scratch, you jumpstart with their knowledge and can improve from there