President Joe Biden’s administration canceled a $200 million grant it previously planned to award to a Chinese Communist Party-linked lithium-ion battery maker after Republican lawmakers criticized the deal.
Last year, Biden’s Department of Energy (DOE) selected Microvast to receive a $200 million federal grant from a fund created under the Infrastructure Investment and Jobs Act of 2021. Those funds were intended to help America become less reliant on China for critical supplies like lithium-ion batteries.
Microvast was one of 20 companies chosen, despite maintaining a “substantial portion” of its operations in China.
As Breitbart News reported:
Microvast is owned by holdings company Microvast Holdings Inc. In a December 14, 2021, filing to the Securities and Exchange Commission (SEC), Microvast Holdings Inc. stated, “A substantial portion of our facilities are currently located in the People’s Republic of China, which we refer to as the ‘PRC’ or…
