‘Did Anyone at DOE Actually Do Their Homework?’: Senate Grills Biden Official Over Funding to China-Based Battery Company

Senators quizzed the Department of Energy about a $200 million grant to China-based lithium batteries company. Department officials acknowledged that they are still conducting research. “due diligence review” The award was announced several months later.

On Thursday, the DOE testified before the Senate Energy and Natural Resources Committee. This comes after lawmakers have scrutinized the DOE over the proposed Microvast grant. Washington Free Beacon reported According to financial records, the majority of the company’s operations are located in China and the Chinese government. “exerts substantial influence” Its business activities.

Sen. John Barrasso (R., Wyo.The committee’s ranking Republican, John Barrasso (R., Wyo.), brought a large placard that was based on Microvast’s Securities and Exchange Commission Report. This report revealed the company’s extensive involvement with China.

“The company states, and it’s right here on the board behind me, that it is under the ‘substantial influence’—the ‘substantial influence’—of the People’s Republic of China, the PRC,” Barrasso noted that the term was not a new one. “PRC” Was “mentioned 471 times in the company’s filings.”

“Did anyone at DOE actually do their homework?” Barrasso asked. “Did you know if anyone actually bothered to read this?”

The DOE grants program is funded through the Bipartisan Infrastructure Act, which includes specific provisions by Congress that prevent federal funds going to China’s batteries industry. The DOE has supported the award by claiming that Microvast is an a “majority U.S.-owned company, traded on NASDAQ,” “headquartered in Stafford, Texas.”

Senator Joe Manchin (D.W.Va.) was the chairman of the committee and told DOE deputy secretary David Turk that he believed that the committee had been successful. “some concerns” Microvast: Questions about it “DOE’s process for vetting applicants to ensure that we’re not giving our best ideas to China and funding them to be able to take advantage of it in their marketplace, along with ours.”

Turk stated that Microvast hadn’t received the money yet and that the grant negotiation is ongoing. He stated that the DOE is currently working with U.S. intelligence agents to conduct an analysis. “extended due diligence process” All grantees, Microvast included.

Turk also pointed out that it was challenging to find battery companies without strong Chinese ties.

“Unfortunately … the vast majority of battery manufacturing is in China right now. And a lot of that [intellectual property] is in China right now,” Turk.

Barrasso, last month sending a Letter To the

*As an Amazon Associate I earn from qualifying purchases