27 May 2021
Alongside Linklaters’ global automotive sector leaders and industry experts, Zhao Sheng’s corporate partner and Head of Automotive Sector, Richard Gu, joined live interviews with Financial Times’ world-class automotive journalists to discuss the hot topics in the automotive industry at the Financial Times Future of the Car summit recently.
Legislators and regulators across the globe are introducing sweeping new rules, tightening existing regulations and focusing on enforcement. During the interview, Richard discussed how these changes would impact businesses, the opportunities and challenges these changes present and how businesses can ensure compliance in the new regime.
Richard Gu, commented:
“The overall trend in China is to open up the market to foreign investors; with the auto sector expected to be further liberalised by 2022. For example, foreign investors will have full access to invest in passenger car businesses. In terms of regulations on Chinese original equipment manufacturers (OEMs), China takes a “top-down” approach with the government’s target of achieving carbon neutralisation by 2060. There are more than 60 policies from the government supporting the growth of the electric vehicles (EV) industry, creating huge potential for OEMs. Multi-jurisdictional FDI analysis and sanctions have become the key topics amongst investors in response to tightening cross-border regulations and increased scrutiny from customers, investors and financiers.”
About Richard Gu
Richard Gu has over 20 years’ experience in China related joint venture and cross border M&A transactions. He is the Head of Linklaters Zhao Sheng’s Automotive Sector team, having advised a number of OEMs, automotive parts and systems suppliers on their strategic transactions. Richard also advises on regulatory matters relating to conducting business in China including administrative licensing, employment, cybersecurity and data privacy compliance. In addition to his legal qualification, Richard is a certified public accountant and certified tax advisor qualifications in China.
About Financial Times Future of the Car summit
The Financial Times Future of the Car summit is where visionary OEMs, industry shakers and challenger brands come together to scrutinise the technology, consumer and business model trends forever changing the way cars are made and sold. Now in its 7th year, this is one of the most highly anticipated gatherings of OEMs and their technology partners in the global automotive events calendar.
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