Energy Dept. rejects $200M grant to battery maker after GOP criticism over alleged ties to China

By MATTHEW DALY
Associated Press

WASHINGTON (AP) — The government has canceled plans to award a $200 million grant to a U.S. battery manufacturer amid criticism from Republican lawmakers over the company’s alleged ties to China. Texas-based Microvast was one of 20 companies to win preliminary grants totaling $2.8 billion to boost domestic manufacturing of batteries for electric vehicles. The company is building a battery plant in Tennessee and was in talks with the Energy Department for a $200 million grant The department isn’t offering a specific reason for the decision. Microvast’s CEO says “neither the Chinese government nor the Chinese Communist Party has any ownership in the company, nor do they control or influence company operations in any way.” Microvast is considering all options in response.