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Home » Biden to Give $850 Million to Chinese-Owned Battery Company.

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

Last summer, the Biden government sanctioned an $850 million conditional loan to KORE Power for battery production plant construction in Arizona. The intent was to lessen the United States’ dependency on China’s batteries. However, court documents reveal that KORE Power has enlisted its co-owner, a Chinese battery firm, to construct the taxpayer-funded facility.

With its Idaho headquarters and compact staff of around 150 employees, KORE Power was initially portrayed as an apt selection for the project due to its all-American backdrop. Yet the documents indicate the company’s comprehensive roots in China.

Do-Fluoride New Materials (DFD), a Chinese battery manufacturer led by Li Shijiang, a Chinese Communist Party official, owns 14 percent of KORE.

At the same time, DFD’s vice-chair and vice president of China’s state-supervised Patent Protection Association, Li Lingyun, is a director at KORE.

Read the rest at the Washington Free Beacon.

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