DOE withholds $200M from battery company amid GOP criticism of China ties.

The US Department of Energy (DOE) has cancelled a proposed $200m grant to Texas-based battery company Microvast, whose connections to China had drawn criticism from lawmakers. The grant would have helped fund a factory for battery technology in Tennessee. Microvast is a publicly traded US company but has a subsidiary in China. The money for Microvast would have come from the bipartisan 2021 infrastructure law. DOE had assured lawmakers it was conducting a due diligence review before any money went to the company.