DOE's Granholm hands out $200-million greenie grant to lithium battery company — controlled by the Chinese
So what does "American-made" mean to the Biden administration as it hands out huge chunks of "free" taxpayer cash for its "green" infrastructure schemes?
As Donald Trump used to say: "Chiii-na."
According to Alana Goodman at the Washington Free Beacon:
President Joe Biden's Department of Energy is touting a grant to a lithium battery company as a move that would help herald the shift to green energy and ensure the United States is cultivating domestic sources of energy. It did not say, however, that the Texas company receiving the grant operates primarily from China and is under scrutiny from American financial regulators.
The DOE announced in October that it would give the $200 million award to Microvast Holdings to build a battery separator facility in Tennessee, using funding from the Bipartisan Infrastructure Law. At the time, Energy Secretary Jennifer Granholm said the grant would "supercharge the private sector to ensure our clean energy future is American-made."
While the DOE described Microvast as a "majority U.S.-owned company, traded on NASDAQ" and "headquartered in Stafford, Texas," financial records show the company operates primarily out of China. Microvast itself says the Chinese government "exerts substantial influence over the manner in which we must conduct our business activities and may intervene, at any time and with no notice." The company was also recently added to a Securities and Exchange Commission watchlist of Chinese companies that are on track to be delisted from NASDAQ for failing to comply with U.S. auditing requirements.
This not only has the smell of "Solyndra" all over it, given that it can't seem to produce records for an audit any more than Sam Bankman-Fried can, but also is a China-controlled entity. What China wants, the company does.
That rather puts paid to the idea that Joe Biden is out financing "Made in America" green infrastructure, in response to previous reports that solar panels and wind turbines have largely benefited Chinese makers.
How he touted that to the public and, like a conman, won votes for his "infrastructure" bill on that very promise. Domestic green energy, domestically produced, and pay no attention to that oil in the ground that could be produced without subsidies.
Turns out he didn't mean it at all, and now that he's got the bill passed with the cash to fling around, his promise was about as good as the one he made to the student loan debtors.
Here's one small part of his droning dreck on the importance of bankrolling Made-in-America greenie energy schemes dating from the White House site last June:
While President Biden continues pushing Congress to pass clean energy investments and tax cuts, he is taking bold action to rapidly build on this progress and create a bridge to this American-made clean energy future. Today, President Biden is taking action to:
- Authorize use of the Defense Production Act (DPA) to accelerate domestic production of clean energy technologies, including solar panel parts;
- Put the full power of federal procurement to work spurring additional domestic solar manufacturing capacity by directing the development of master supply agreements, including “super preference” status; and
- Create a 24-month bridge as domestic manufacturing rapidly scales up to ensure the reliable supply of components that U.S. solar deployers need to construct clean energy projects and an electric grid for the 21st century, while reinforcing the integrity of our trade laws and processes.
Together, these actions will spur domestic manufacturing, construction projects, and good-paying jobs — all while cutting energy costs for families, strengthening our grid, and tackling climate change and environmental injustice. With a stronger clean energy arsenal, the United States can be an even stronger partner to our allies, especially in the face of Putin’s war in Ukraine.
Give me your votes, then forget about what I promised about Made in America. That's his "word as a Biden."
What seems to be happening here is the same thing we have seen from the European Union, particularly France, that Joe Biden's free money and incentives to develop greenie infrastructure has attracted a boatload of foreign companies, pulling up stakes from Europe to avail themselves of Joe's free cash, which they would otherwise have to put up themselves.
I wrote about the beefs from Europe here:
Lastly, there's the much-reviled "Inflation Reduction Act" which as it turns out, penalizes Europe, given that most of the greenie energy projects include a "Made in U.S.A." label. It's not as if the European Union doesn't do this itself on a host of goods Americans buy from them. But all the same, big subsidies to non-sustainable-without-subsidies projects such as green energy has had many knock-on effects which harm allies. European companies are pulling up stakes and coming to the U.S. to take advantage of all that Biden green free money, which wasn't exactly the plan when Biden's minions created the Inflation Reduction Act in the first place. They are leaving Europe and the U.S. is benefitting. No wonder that leaves them steaming.
It's quite likely that Biden, when he spoke of his differences with French president Emmanuel Macron on his recent state visit, got an earful from the French president on this very matter, which, Biden later said, would require "tweaks" in the bill, which are unlikely to happen.
But more to the point, it looks as though the Chicoms are taking advantage, too. Free money from the feds is a dinner triangle heard worldwide, and otherwise useless and unprofitable green enterprises are now flocking to the U.S. to get hold of all that free green money Joe's handing out.
What's disgusting is that Granholm billed it as "Made in America" when in fact only the money shoveled out is Made in America. The greenie enterprises are foreign, they are Chinese, they thrive on subsidies, and they gather to the States like bums encircling a chief drug-dealer in a homeless encampment for their succor.
That's not what the American people were told as this bill went into operation. The money was really for China.
Hat tip: Instapundit.
Image: U.S. National Archives via Picryl, no known copyright restrictions.