Youngkin Wants No Part Of Subsidizing Company Tied To CCP

  • Virginia Republican Gov. Glenn Youngkin doesn’t want his state involved in possibly becoming the home to a new battery manufacturing plant that is the result of a partnership between Ford Motor Co. and a Chinese company called Contemporary Amperex Technology Co. Ltd. (CATL).
  • “The governor has directed the Virginia Economic Development Partnership (VEDP) to remove Virginia from consideration for this project and not to submit an incentive package,” the source told the Daily Caller. “Ultimately, Virginia is removing itself from any possibilities of the CATL plant being established due to concerns surrounding the deal.”
  • CATL’s connection to the Chinese government is a “major concern” for Republican Gov. Glenn Youngkin, a source close to the talks told the Daily Caller, adding that Youngkin also has an issue with the terms of the deal that would allow CATL to receive U.S. tax benefits under the new Inflation Reduction Act (IRA).


Click to read full article Go back home

Sign Up for Our Newsletter

Join our list!

Sign up here to get our daily newsletter with the top trending headlines.