{"id":1767044,"date":"2022-12-08T05:03:29","date_gmt":"2022-12-08T10:03:29","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767044"},"modified":"2022-12-08T05:03:33","modified_gmt":"2022-12-08T10:03:33","slug":"endangering-our-national-security-senator-launches-inquiry-into-bidens-200m-grant-to-china-based-battery-company","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/endangering-our-national-security-senator-launches-inquiry-into-bidens-200m-grant-to-china-based-battery-company\/","title":{"rendered":"\u2018Endangering Our National Security\u2019: Senator Launches Inquiry Into Biden\u2019s $200M Grant to China-Based Battery Company"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">30<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fendangering-our-national-security-senator-launches-inquiry-into-bidens-200m-grant-to-china-based-battery-company%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1767044&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>The top Republican on the Senate energy committee launched an inquiry on Wednesday into a Biden administration grant to a China-based battery company under scrutiny from U.S. financial regulators. The announcement came in the wake of a <em>Washington Free Beacon<\/em> report about the Biden administration&#8217;s attempt to spin the grant as a boon for American-made clean energy.<\/p>\n<p>Sen. John Barrasso (R., Wyo.), the ranking member of the Senate Energy and Natural Resources Committee, said the Department of Energy\u2019s grant to Microvast Holding &#8220;endangers our national security&#8221; and &#8220;undermine[s] the United States\u2019 position in its race against China for technological supremacy,&#8221; in a <a href=\"https:\/\/www.energy.senate.gov\/services\/files\/78472F1E-2200-4289-822A-BA8870D1E96C\" target=\"_blank\" rel=\"noopener\">letter<\/a> to DOE secretary Jennifer Granholm on Wednesday.<\/p>\n<p>The inquiry comes after the DOE gave the $200 million award to Microvast, a holding company that operates primarily in China, to build a lithium-ion battery separator facility in Tennessee, the<em>\u00a0Free Beacon<\/em> <a href=\"https:\/\/freebeacon.com\/biden-administration\/doe-touts-200m-grant-to-lithium-battery-company-as-boon-to-american-made-clean-energy-the-company-operates-primarily-from-china\/\" target=\"_blank\" rel=\"noopener\">reported<\/a> on Tuesday. Granholm said the funding, which came from the Bipartisan Infrastructure Law, would help &#8220;supercharge the private sector to ensure our clean energy future is American-made.&#8221;<\/p>\n<p>Barrasso asked Granholm to turn over records detailing the &#8220;security review process&#8221; for companies receiving DOE funding, and the names of officials who are responsible for approving the payments.<\/p>\n<p>&#8220;Microvast\u2019s close relationship with China is no secret,&#8221; wrote Barrasso. &#8220;I remind you that the Bipartisan Infrastructure Law was ostensibly intended to develop robust domestic manufacturing bases and supply chains free from the predations of the [People\u2019s Republic of China].&#8221;<\/p>\n<p>&#8220;DOE distributing $200 million in taxpayer funds to a company joined at the hip with China is demonstrably antithetical to the Bipartisan Infrastructure Law\u2019s intent,&#8221; he added.<\/p>\n<p>Barrasso asked Granholm to provide him with the information by Dec. 21.<\/p>\n<p>The DOE described Microvast as a &#8220;majority U.S.-owned company, traded on NASDAQ&#8221; and &#8220;headquartered in Stafford, Texas.&#8221; Microvast\u2019s 2021 annual report with the Securities and Exchange Commission said it is a &#8220;holding company, and we conduct all of our operations through our subsidiaries, and principally through our subsidiary in China.&#8221; Microvast said it has received subsidies from the Chinese government and a significant portion of its customers are Chinese state-owned enterprises.<\/p>\n<p>&#8220;The PRC 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,&#8221; said the company\u2019s filing.<\/p>\n<p>Earlier this year, the Securities and Exchange Commission added Microvast to a list of public companies with China-based auditors and<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The top Republican on the Senate energy committee launched an inquiry on Wednesday into a Biden administration grant to a China-based battery company under scrutiny from U.S. financial regulators. The announcement came in the wake of a Washington Free Beacon report about the Biden administration&#8217;s attempt to spin the grant as a boon for American-made clean energy.<br \/>\nThe post \u2018Endangering Our National Security\u2019: Senator Launches Inquiry Into Biden\u2019s $200M Grant to China-Based Battery Company appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":120,"featured_media":1767047,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[],"class_list":["post-1767044","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/120"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1767044"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1767044\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1767047"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1767044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1767044"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1767044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}