According to Reuters, over 200 companies competed for grants under the IIJA last year, but only 20 companies were awarded. The grant to the company was for building a lithium-ion battery separator facility next to its battery plant in Clarksville, Tennessee, as a joint project with General Motors. Microvast is owned by holdings company Microvast Holdings Inc. The company presented itself to the members as an American company headquartered in Texas and concealed any potential affiliation with Beijing. The Arkansas delegation is trying to get answers from the DOE before the project goes any further.
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