Biden Betrays America: Funding Chinese-Owned Company With $850,000,000

In a surprising move, the Joe Biden Administration, which is up for reelection in the 2024 U.S. elections, has given $850 million to KORE Power, a Chinese-owned battery maker, as part of a conditional loan to build a battery production plant in Arizona. This decision has raised concerns, as the funds were intended to decrease American reliance on batteries from China.

The Biden admin approved an $850 million loan to the company KORE Power to build a battery plant in Arizona.

The goal was to combat Chinese dominance of the battery industry.

But it turns out KORE is co-owned by a Chinese company led by a CCP official:https://t.co/IWaYmUk0WT

— Alana Goodman (@alanagoodman) February 28, 2024

According to court filings, KORE Power has enlisted the help of its parent company, a Chinese battery maker, to raise the new factory site. This has led to criticism from various groups, including Americans for Public Trust. Their executive director, Caitlin Sutherland, stated, “For a program that was supposed to decrease America’s reliance on China, this is incredibly counterproductive. It’s outrageous that a company partly owned by a Chinese company with ties to the CCP would be rewarded with taxpayer money.”

NEW: Biden To Give $850 Million to Chinese-Owned Battery Company KORE Power:@CaitlinAPT: "It’s outrageous that a company partly owned by a Chinese company with ties to the CCP would be rewarded with taxpayer money.”

Via @alanagoodman for @FreeBeacon https://t.co/SQQIizg207

— Americans for Public Trust (@apublictrust) February 28, 2024

This decision is particularly concerning given recent warnings from U.S. officials about the potential threat posed by Chinese hackers. FBI Director Christopher Wray cautioned that China’s hackers could “wreak havoc and cause real-world harm to American citizens and communities.” Rear Adm. John Vann, who leads the U.S. Coast Guard Cyber Command, also warned that Chinese installations in the U.S., such as the battery plant, could be vulnerable to attacks, potentially disrupting operations and damaging the economy.

There is a concern that China may use these installations to attack the U.S. at vulnerable points, causing chaos and distracting the U.S. military and intelligence community while they make a move to invade Taiwan and conquer the neighboring island by force.

In conclusion, the Biden Administration’s decision to provide funding to a Chinese-owned battery maker has sparked controversy and raised concerns about national security. It remains to be seen how these developments will impact the U.S. elections in November 2024.