Can the U.S. fund and build domestic supply chains for batteries without China?
When the Department of Energy announced a $200 million grant to battery maker Microvast Holdings for a plant in northern Tennessee last October, it seemed like a win-win. The funds would enable the Texas-based company to quickly ramp up production of its cutting edge technology, and bolster the U.S.’s battery supply chain — a key goal of the Biden administration’s $1 trillion infrastructure spending package.
In the following months, however, Microvast found itself embroiled in a p
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