Can the U.S. fund and build domestic supply chains for batteries without China?
Zach Ward, President of Microvast's Energy Division, cuts the ribbon at the opening ceremony for Microvast's Technology and Testing Center in Timnath, Colorado, December 20, 2022. Credit: Microvast via LinkedIn
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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