Yesterday, we pointed out in the HOTLINE that two of the largest corporate welfare recipients of the Biden “Chips Act” are actually Taiwan Semiconductor Manufacturing and South Korea’s Samsung. That makes a mockery of the Act’s purported aim of rebuilding America’s chip industry.
Now the Daily Caller reports that another “Chips Act” recipient is KORE Power, a U.S.-based electric battery manufacturer, which won an $850 million loan this month to open a production facility in Arizona. But KORE relies on a Chinese Communist Party-led company for its technology.
Jigar Shah, the director of loans for the Department of Energy, admitted that KORE is “using technology from a Chinese company, DFD, to manufacture battery cells.” He failed to mention that its top executives are all members of Communist Party cells. In 2916, DFD’s party secretary Han Shjiun said that it was necessary to integrate party-building work into the core aspects of the company, according to the Henan Daily.
The Chips Act was sold as a way to regain America’s once domination of the semiconductor industry and to curtail our dependence on Chinese technology. Now we’re using the money to subsidize the world’s biggest Chinese supplier of Chips.