Biden admin. cancels $200 million grant to CCP-linked battery maker

By Jen Krausz on
 May 25, 2023

Following a Republican outcry, President Joe Biden canceled a $200 million grant to Microvast, a lithium battery maker linked to the Chinese Communist Party.

The idea behind the grants was to reduce American dependence on Chinese batteries and electronics, but that doesn't really work if the company getting the grant is CCP-linked.

The company also has a "considerable amount" of its operations in China.

Republicans in Congress questioned Energy Secretary Jennifer Granholm in February about Microvast's selection in a letter.

“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?” they wrote to Granholm.

It took awhile for the administration to figure things out, but on Monday they announced that the grant was canceled. Biden's attempt to pay China back for enriching his family didn't work out this time.