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ARTICLE · 07 MARCH 2022

CFIUS Approves Chinese Investment In U.S. Plane Maker

Winston Taylor
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On Tuesday, March 1, The Wall Street Journal reported that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") approved a Chinese investment in Icon Aircraft, Inc. ("Icon"), a California-based maker of small recreational vehicles.

GlobalInternational Law
J. Tyler McGaughey
J. Tyler McGaughey

On Tuesday, March 1, The Wall Street Journal reported that the Committee on Foreign Investment in the United States ("CFIUS" or the "Committee") approved a Chinese investment in Icon Aircraft, Inc. ("Icon"), a California-based maker of small recreational vehicles.

According to The Wall Street Journal, CFIUS began reviewing the transaction last November after shareholders notified the Committee that Icon's controlling Chinese shareholder was improperly transferring technology to China.

Icon was founded in 2006 by a former Air Force pilot. Its only product is the A5, a carbon-fiber airplane with foldable wings capable of land and water takeoffs and landings. According to Icon's website, the plane is designed for recreational use. 

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