Biden Eliminates Yet More Union Jobs

[Wally]

Oops!

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

Last fall, 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...

freebeacon.com

 

[vantexan]

Oops!

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

Last fall, 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...

freebeacon.com

Chinese investment in Biden is paying off.

 

[Wally]

Chinese investment in Biden is paying off.

The UAW membership must be pleased with this news, eager to cast that vote for Biden.

 

[fishtm2001]

Chinese investment in Biden is paying off.

Kore Power, a Coeur d’Alene, Idaho-based company that currently makes lithium-ion battery cells in China, has won a conditional commitment from the Department of Energy’s Loan Programs Office for an $850 million loan to help build its first major U.S. manufacturing facility in Arizona.

 

[fishtm2001]

The UAW membership must be pleased with this news, eager to cast that vote for Biden.

The $850 million loan, which requires Kore to meet certain milestones and conditions before it is made final, comes from the DOE’s Advanced Technology Vehicles Manufacturing (ATVM) loan program. The same program loaned about $8 billion to Ford, Nissan, Tesla and a few other automakers between 2007 and 2010, and has been revived under the Biden administration.

 

[Wally]

"For a program that was supposed to decrease America’s reliance on China, this is incredibly counterproductive. It’s outrageous that a company partly owned by a Chinese company with ties to the CCP would be rewarded with taxpayer money," said Caitlin Sutherland, executive director of the watchdog group Americans for Public Trust,

 

[UnionStrong]

The UAW membership must be pleased with this news, eager to cast that vote for Biden.

Suckers

 

[Wally]

Suckers

What interest rate were these risky loans to Chinese owned companies?

 

[DELACROIX]

What interest rate were these risky loans to Chinese owned companies?

Wonder if there are any DEI clauses or pre- requirements?