Thank you, Mr. Chair.
My first question is for Ms. Black.
I'd like to discuss the U.S. approach to a national security review of foreign investments. There was a case recently, on February 5, 2023. Gotion High-Tech, a company that manufactures batteries and provides energy storage solutions in China, signed a memorandum of understanding with InoBat, Europe's leading supplier of high-end batteries for electric vehicles, to explore the possibility of creating a joint venture that would revolutionize electric vehicle battery and energy storage technologies. In particular, the plan is to join forces to set up a mega battery factory with a production capacity of 40 gigawatt hours. Gotion High-Tech will build the plant, which will be considered a real estate acquisition, and not an investment in an American company.
You commented on a recent article on the subject, in which it was mentioned that the Committee on Foreign Investment in the United States may not have all the expertise it requires. Can you elaborate on this situation?
Several joint venture proposals like this are appearing right now, particularly for mining projects, and I wonder if it might have repercussions here, too.