US EditionBiden to Give $850 Million to a Chinese-Owned Battery Company
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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 …
·Washington, United States
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