Important Takeaways:

• Feds decline review of Chinese battery plant plans in Big Rapids, company says
• Federal regulators have concluded they don’t have the proper jurisdiction to conduct a review of a planned $2.4 billion Chinese battery part manufacturing plant in the Big Rapids area, the company said in a Tuesday statement in which they committed to moving forward with the project.
• The U.S. Treasury Department, according to the statement, told Gotion Inc. that the company’s purchase of land in the Big Rapids area is “not a covered real estate transaction and is not a covered transaction under the Defense Production Act of 1950.”
• CFIUS, which reviews foreign investments for national security risks, has repeatedly declined comment when asked to confirm whether a request was made for a review of the Big Rapids project. The agency did not immediately respond to a request for comment Tuesday.

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