Chinese Firm Poised To Cash In On Biden’s Climate Bill

So-called Inflation Reduction Act was alleged to give U.S. ability to compete with communist China

  • President Joe Biden pushed through nearly $400 billion in “green energy” subsidies last summer, and now, Ford has announced that it intends to use Biden’s tax credits to make electric vehicle batteries with Chinese technology and labor.
  • Ford announced plans to invest $3.5 billion to construct a Michigan factory that will produce EV batteries in partnership with Chinese battery giant Contemporary Amperex Technology, Co., Limited.
  • Ford said that the Chinese firm will provide technology, equipment, and workers to help build and run the factory.
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