Biden to Give $850 Million to a Chinese-Owned Battery Company

Biden to Give $850 Million to a Chinese-Owned Battery Company

Last summer, the Biden administration announced an $850 million conditional loan to a company called KORE Power to build a battery production plant in Arizona. The purpose was to decrease the United States’ reliance on China’s batteries, but KORE Power has enlisted its co-owner, a Chinese battery maker, to help build the taxpayer-funded facility, according to court filings. The Biden administration touted the project as a way to "strengthen the …