Marco Tronchetti Provera, the executive vice chairman of Pirelli, shared in an interview with a newspaper that the Italian tyremaker is facing challenges in investing in the United States due to its largest shareholder, China's state-owned Sinochem. The disagreement between Pirelli's Chinese and Italian shareholders on governance, exacerbated by the U.S. cracking down on Chinese technology in the automotive sector, has hindered negotiations with local authorities in states like Alabama, Virginia, and Georgia. Despite these obstacles, Tronchetti Provera expressed optimism that an agreement could be reached with Sinochem to address U.S. concerns and ensure compliance with American laws to continue operations in a crucial market for Pirelli.
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