Author Topic: Biden Admin Cancels $200M Grant to CCP-Linked Microvast After Republican Scrutiny  (Read 178 times)

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Biden Admin Cancels $200M Grant to CCP-Linked Microvast After Republican Scrutiny

Jordan Dixon-Hamilton 24 May 2023

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 ‘China,’” as Breitbart News previously reported.

Republican lawmakers in February wrote a letter to Energy Secretary Jennifer Granholm demanding answers about why the Biden Administration selected Microvast to receive funds that were intended to help Americans.

“If the goal of this funding is to reduce U.S. dependence on foreign entities for critical minerals, why would DOE award funding to a company with obvious ties to the CCP?” The Republican lawmakers asked Granholm on February 7.

Later that month, Biden’s administration announced the $200 million grant was under review.

On Monday, administration officials announced it canceled plans for Microvast’s grant:

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https://www.breitbart.com/politics/2023/05/24/biden-admin-cancels-200m-grant-to-ccp-linked-microvast-after-republican-scrutiny/
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Offline sneakypete

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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.

Don't  ya just hate it when something like that happens?

I,for one,would like to know who those Republican lawmakers were,so I could email them "thank you" notes.
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Offline sneakypete

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Republican lawmakers in February wrote a letter to Energy Secretary Jennifer Granholm demanding answers about why the Biden Administration selected Microvast to receive funds that were intended to help Americans.

Well,thee Bidens DID intend to  help  Americans. Primarily those  named "Biden" and their cohorts.

Don't you people understand that the Bidens have to split that money with  the Clintons,the Obombers,and a few other insiders? By the time they finish with the payoff's,all they will end up with is maybe a few measly tens of millions each.
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Offline christian

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The Chinese and Ukrainians so desperately need Americas jobs and money, and can keep unworthy Americans living on the streets from wasting such mountains of money.  Only democrats know how deeply and badly our jobs and money needs to go to foreigners!  (food too!)
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