00:00It's Benzinga and here's what's on the block.
00:02The U.S. Commerce Department has proposed a new rule to ban some Chinese and Russian-made
00:07automotive hardware and software from the U.S. citing national security concerns.
00:12The restrictions would focus on connected vehicle technology such as internet-connected
00:16cameras and GPS, which could be used by foreign adversaries to disrupt public safety.
00:22Commerce Secretary Gina Raimondo emphasized the risk posed by foreign access to sensitive
00:27car data.
00:28The rule, which would impact electric and traditional vehicles, is set to begin in 2026
00:33and could be fully implemented by 2030.
00:36The rule could severely hinder Chinese automakers' access to the U.S., making it unlikely for
00:41Chinese EVs to be sold in the U.S. within the next decade.
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